What Next For Crypto Co (OTCMKTS:CRCW)?

The meteoric price boom in the cryptocurrency space is showing no signs of slowing down anytime soon. The sector is already worth more than $300 billion and still growing. If you are looking for a long-term play in the space, look nowhere else, other than the Crypto Co (OTCMKTS:CRCW).Crypto Company, which is one of the first publicly traded technology company in the space, remains well positioned to continue growing as the sector expands.With bitcoin touching record highs as other cryptocurrencies follow suit, the future has never been brighter for The Crypto Company. The company already boost of a $4.43 billion market cap further affirming its credentials in a space that has until now been shrouded with uncertainty. Stock Performance It’s been an impressive year for The Crypto Company shareholders, as the share price has more than tripled in value over the past one month.However, the stock suffered its biggest loss in a single day, after losing more than 60% of market value. The stock has since pulled back from record highs of $642 to $223, before rallying to close Thursday at $508. CRCW Daily ChartThe plunge came as a surprise given that the stock has been trading in an uptrend over the past one month. While it is still unclear what might have caused the plunge, one cannot dispute that it might be as a result of investors taking profit after a breathtaking rally.The Crypto Company long-term prospects remain positive supporting a possible bounce back to 52-week highs of $642.Before we look, at what could trigger a bullish run after a recent sell-off, let us first understand what the company really does. The Crypto Company Business Overview The Crypto Company is a publicly traded company with operations in the digital currencies and blockchain sector. The company provides consulting services on matters pertaining to investing, trading and development of source code for digital assets.Founded in 2017 the company also invests in a manner that diversifies investor’s exposure to growing digital assets as a way of growing shareholder value.Stock Catalyst Momentum in the space has already received a boost with the streaming in of funds from institutional investors following the unveiling of futures derivatives. The recent pullback could thus be a minor correction pending a further move to the upside.The unveiling of bitcoin futures contracts in the U.S has all but provided a layer of credibility as professional investors flock the space. The nature of The Crypto Company diversified investments should help support stock’s sentiments among investors thus support a bounce back.Acquisition The Crypto Company has made a key acquisition that further affirms its growth metrics. The company has entered into definitive agreement to acquire Germany-based, CoinTracking.info, which is a global leader in cryptocurrency data generation and token related price quotation. It also boasts of a portfolio of tracking services.Established in 2013, CoinTracking.info keeps track of coins, tokens, and assets in one place for users with stakes in the cryptocurrency space. The company currently offers historic prices for more than 5,000 digital currencies and tokens.The acquisitions should help The Crypto Company advance its position in the digital currency industry as competition continues to grow.

“As we continue to develop our consulting, trading and technology development operations, we also intend to continue to pursue partnerships with world-class teams, such as at CoinTracking, as we work to build a best in class organization,” said CEO, Mike Poutre.

The Crypto Company has also underscored its value proposition as a proxy and medium that investors can use to gain exposure to a growing asset of cryptocurrency with the launch of a new trading platform. The platform is designed to allow investors actively trade some of the most liquid cryptocurrencies using in-house capital.The company is currently spearheading the development of a high-frequency trading program specifically designed for the cryptocurrency markets.

“The cryptocurrency markets are gaining greater liquidity every day and we believe that The Crypto Company is uniquely positioned to develop the platforms and establish the protocols required for how traders function in the 24/7/365 world of cryptocurrencies and blockchain,” said Mr. Poutre.

Investor confidence on the stock has also received a boost on the company reporting stellar third quarter financial results. During the quarter, the company says it generated revenues of $487,692, representing a net realized gain on investment.Expenses in the quarter totaled $1.7 million made up of stock-based compensation of $1 million. Third quarter net loss consequently stood at (-$1.5) million. The company ended the quarter with a strong balance sheet of $2.6 million in cash and no long-term debt. Bottom Line The Crypto Company remains well positioned to continue generating shareholders value amidst the boom in the cryptocurrency space. A ramp-up of operations should allow the company to generate more revenues which should lead to more cash flow, therefore, providing support to the stock price.We will be updating our subscribers as soon as we know more. For the latest on CRCW, sign up below!Disclosure: We have no position in CRCW and have not been compensated for this article.