Since yesterday, the paper has gained momentum again. It looks very much as if the stock has broken out of the aforementioned zone to the upside. Today alone it went up again by + 10.53% to 63 EUR. In yesterday’s Xetra trading, the Bitcoin specialist’s shares climbed from EUR 53.70 (closing price October 13, 2017) by + 6.15% to EUR 57 (closing price October 16, 2017).
Reasons for the price increase are probably of a purely technical nature, as the company itself has not reported any news. Or is Bitcoin once again responsible for this as a “reference”? The Bitcoin price recently rose from around EUR 4,400 (October 13, 2017) to currently around EUR 4,800 (October 17, 2017 / 11:42 am). Another possibility could be that investors are already speculating on any “good news” that could follow in the coming weeks and months.
Bitcoin Group: Is the share still a buy after the “price explosion”? THEME WEEK:
The Bitcoin Group had announced that it would make the jump from the open market to the regulated market in the second half of the year and make Ethereum, the second largest cryptocurrency in terms of market capitalization, tradable on the trading platform (Bitcoin.de) of the wholly-owned subsidiary Bitcoin Deutschland AG.
Currently (October 17, 2017 / 11:17 a.m.) the share is quoted at EUR 61.70 and has thus far been + 8.25% in today’s Xetra trading. This means that the share is still 28% away from its all-time high on a closing price basis of EUR 79.
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