COIN 1W
Following the recent SEC lawsuit, sentiment on Coinbase has never been lower. However, this may not be the end for Coinbase. As long as they don’t go bankrupt and there IS another bull cycle, COIN seems like a safe, regulated way to gain beta on a future Bitcoin bull market. Additionally, Coinbase plans to open its international perpetual futures exchange which should do well since allocations of Binance misappropriating customer funds was recently released. If Coinbase can execute on their futures exchange launch, there could be a massive migration of customers from unregulated exchanges such as Bybit and Binance to Coinbase.
As a result, we like Coinbase to $475.
Following the recent SEC lawsuit, sentiment on Coinbase has never been lower. However, this may not be the end for Coinbase. As long as they don’t go bankrupt and there IS another bull cycle, COIN seems like a safe, regulated way to gain beta on a future Bitcoin bull market. Additionally, Coinbase plans to open its international perpetual futures exchange which should do well since allocations of Binance misappropriating customer funds was recently released. If Coinbase can execute on their futures exchange launch, there could be a massive migration of customers from unregulated exchanges such as Bybit and Binance to Coinbase.
As a result, we like Coinbase to $475.