Stock Highlights: COINBASE @ COIN

πŸ“ˆ Coinbase shares have shown strong performance, rising from $46 in June to $150 in the second half of the year.

1/15/20241 min read

Stock Highlights: COINBASE @ COIN

- πŸ“ˆ Coinbase shares have shown strong performance, rising from $46 in June to $150 in the second half of the year.

- πŸ”„ The rally is attributed to increased interest and volume in the cryptocurrency space, anticipating announcements of spot Bitcoin ETFs and the upcoming Bitcoin halving event in mid-April 2024.

- πŸ“Š Twelve spot Bitcoin ETFs, awaiting SEC approval from companies like BlackRock and Fidelity, could boost Coinbase as it is the named custodian for nine of them.

- πŸ’° Coinbase would charge for custody services, potentially contributing to its revenue.

- πŸ“† The Bitcoin halving event in April 2024 is expected to bring heightened volume and volatility, affecting the broader cryptocurrency market.

- πŸ“‰ Although some increased interest is reflected in the current share price, charts suggest potential for further growth, with targets at $183 and $230.

- πŸ“š Caution and risk management are advised in cryptocurrency investments, especially considering the uncertainty around ETF approval and potential market reactions.

- πŸ“Š Coinbase shares have broken above key moving averages, exhibiting a bullish setup on the weekly chart.

Channel Jutawan Saham:

https://whatsapp.com/channel/0029Va3rtZd4o7qPERJsgR3D