Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Business

Coinbase Shares Surge as Bitcoin Rally Continues

Coinbase Global, Inc. (COIN) shares are trading higher on Monday as several crypto-related stocks move up, propelled by the rise in the price of Bitcoin. In the past month, Coinbase shares have surged by 48% as Bitcoin’s recent rally continues. This surge comes in the wake of the approval of several spot Bitcoin ETFs in January, as institutions make substantial purchases and the acceptance of the cryptocurrency grows. Additionally, investors may be anticipating the next Bitcoin halving event, expected to occur in mid to late-April.

Last week, Coinbase reported significant outflows of Bitcoin, leaving the exchange with 390,000 Bitcoins, equivalent to about $20 billion. These outflows are likely a result of funds being transferred to establish new custodial wallets or provide funding for OTC transactions.

It’s important to note that predicting the future stock prices over long periods of time is challenging. Wall Street analysts employ complex models that consider various factors such as interest rates, economic growth, competitive advantages, management teams, and historical profitability. However, utilizing trend analysis as a tool, investors can aim to forecast a stock’s annual rate of return. Over the past 5 years, Coinbase Global has seen an annualized stock performance of -12.75%. Assuming this trend continues for another 5 years, a similar performance can be expected.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *