Why did Coinbase stock drop?
Shares of Coinbase Global (NASDAQ:COIN) fell today after Chinas central bank said it was cracking down on cryptocurrencies that are bought and sold through the countrys banks and payment processing companies. Coinbases stock fell by as much as 4.6% today and was down by 3.1% as of 3:43 p.m. EDT.
What is the expected Coinbase stock price?
Analyst Price Target on COIN Based on 15 Wall Street analysts offering 12 month price targets for Coinbase Global in the last 3 months. The average price target is $350.08 with a high forecast of $500.00 and a low forecast of $220.00. The average price target represents a 53.83% change from the last price of $227.57.
Why is crypto stock going down?
Bitcoin and other cryptocurrencies are selling off again, falling at least 5% in the past 24 hours. Crypto is under pressure for a variety of reasons: looming government and regulatory crackdowns on Bitcoin, environmental concerns over mining crypto tokens, and waning appetite for highly volatile risk assets.
Is it good idea to buy Coinbase stock?
Key Points. Coinbase is growing like a weed, but its stock is reasonably valued. It impressed investors with a solid second-quarter report, but a potential SEC lawsuit dampened that enthusiasm. It might be smarter to directly buy cryptocurrencies or invest in a more diversified fintech company.
Is it better to invest in bitcoin or ethereum?
While neither of these cryptocurrencies is necessarily a safe investment, Bitcoin may carry less risk than Ethereum because it has a longer track record and greater name recognition. However, Ethereum may have more opportunities for growth over time.
Is Coinbase a bad stock?
So if you dont believe in a crypto future, Coinbase should not be a stock to consider. In the short term, market volatility will play a big role in how Coinbase performs. With high volatility, Coinbase will do very well (bull or bear market). With low volatility, it wont do well.