This virtual currency broker can boast of being the most regulated crypto platform in the industry. Its listing on the stock exchange put it clearly above its competitors in terms of notoriety.
Today’s news from Coinbase as of 05/12/2022:
Onset of crisis at Coinbase ? What is happening now seems like it. Tuesday’s publication by the crypto exchange of its first quarter results has sown the panic. Its net income has indeed increased from $1.6 billion a year earlier to $1.17 billion at the end of March 2022.
As for monthly users, it’s a disaster. Their number fell to 9.2 million from 11.4 million at the end of March 2021. A general underperformance that Coinbase attributes to the situation in the cryptocurrency market since the start of the year.
Coinbase logically plunged on the stock market, by 26.4% at the close of Wall Street on Wednesday. Cryptocurrency holders would indeed fear for their assets in the event of bankruptcy.
Medium-term Coinbase action opinion: Under the weight of the cryptocurrency bear market in early January, Coinbase stock hit all-time lows. It will be necessary to wait for the price to stabilize over a few days before considering buying it at very attractive prices.
Long-term Coinbase stock opinion: Coinbase has so far failed to hold above its IPO price. We think the startup was overvalued during its IPO. But once Coinbase’s stock price regains equilibrium, it will be an exceptional growth stock.
Here is the Coinbase live price.
Our overall opinion on the action Coinbase (COIN) for 2022
Coinbase Mirror Mag Rating: 9/10
68% of retail investor accounts lose money when trading CFDs with this provider. This may interest you: Meta Platforms (FB) Stock Review – Should You Invest Now? Our opinion, analysis and prediction 2022. You have to ask yourself if you can afford to take the high risk of losing your money.
Opinion on what is driving Coinbase stock down
Coinbase stock can be negatively impacted by a number of factors.
- Bitcoin drop
- Lower results
- Bearish phase of the crypto market
Opinion on what is driving Coinbase stock up
Coinbase stock can be positively impacted by a number of factors.
- Rise of Bitcoin
- Renewed interest in cryptocurrencies
- Fed dovish comments
68% of retail investor accounts lose money when trading CFDs with this provider. You should ask yourself if you can afford to take the high risk of losing your money. eToro users in France cannot open positions to buy real crypto assets, all orders are opened as CFDs.