Digital X Up 18.18% On Heavy Volume as Bitcoin Price Soars

What happened to the DigitalX share price?

Shares of DigitalX Ltd [ASX:DCC], the only bitcoin-related company on the ASX, gained more than 18% in morning trade today. It’s sitting at 4 cents at time of writing.

Why did Digital X shares do this?

There have been no announcements, however, with bitcoin at record highs and the company poised to complete a $4 million strategic investment from Blockchain Global, investors have taken notice.

With over four million shares changing hands so far, it is poised to be a bumper day for DigitalX.

What now for DigitalX?

With cryptocurrencies such as bitcoin currently surging on a renewed wave of optimism, DigitalX has an opportunity in the investment spotlight.

In the past, its strategic moves have failed miserably. But, with a renewed management team, the involvement of new partners, and a maturing industry, it might be time to take a look at this company as it sets forth its new strategic direction.

Regards,

Ryan Dinse,
Money Morning

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Ryan Dinse is a contributing Editor at Money Morning. He has worked in finance and investing for the past two decades as a financial planner, senior credit analyst, equity trader and fintech entrepreneur. With an academic background in economics, he believes that the key to making good investments is investing appropriately at each stage of the economic cycle. Different market conditions provide different opportunities. Ryan combines fundamental, technical and economic analysis with the goal of making sure you are in the right investments at the right time.  


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