Earlier this year, we identified Blockchain as a top tech investing trend of 2017 and 2018  and shared with our readers how BTL Group has the potential to disrupt the way many sectors operate. We even compared it to having an Amazon-like upside potential (on the very long term of course), and flashed a buy opportunity 4 months ago when it was trading at $2.30. Two weeks ago, the price dropped sharply to test the support level at $4. That’s when we issued another entry signal for those who missed the previous ones.

We still think our $9 target could be achieved later on this year or in 2018, provided there is no crash in the Blockchain or cryptocurrency space, as BTL Group has the tendency to retrace when cryptocurrencies are falling.

Our forecast is based on the price action illustrated in the chart below where we clearly see that the price is evolving in a perfect up trending channel since late 2016.

Our team is also keeping an eye on the progress of the company against their strategic goals and how they are delivering on their commitments.

As you can see below, BTL Group has been piloting Blockchain implementation with major players in finance (Visa and major European Banks) and energy (ENI, WIEN) using its Interbit platform since 2015. So far the pilots have been successful so that’s always a positive thing for investors.

BTL Group Company progress

On June 22nd, the company announced the appointment of Dominic McCann to the Board of Directors of the Company and an Executive Vice-President, Sales and Marketing of the Company. Considering his background in sales, technology and his experience with the energy sector, we think the appointment ties in well with the Company’s goals. As shown on the 2017 Roadmap, the goals for Q4 are focused on client acquisition for commercial licensing and new pilots so the timing is perfect to make this announcement and signal to the market the start of a new phase.