Coinbase (COIN) on Upward Trend and Heading to 2023 ATH (Long)
Recent ETF filings have placed Coinbase alongside serious financial players such as Blackrock. BlackRock has announced its plans to conclude a monitoring agreement with Coinbase, thereby addressing a key concern previously voiced by the SEC in its rejection of Bitcoin spot ETF applications.
The fact that the SEC action is not scaring investors away, is a bullish sign in itself. However, as more and more traditional financial institutions name Coinbase as Surveillance Partner in Bitcoin ETF filings, the more the price of
COIN
will keep rising.
In addition to the above, any upward movement of Bitcoin and crypto, in general, is set to benefit Coinbase with additional revenue, partnerships and extra value created for customers and investors.
COIN
is up 11% today, 25% this week and 119% up year to date, despite the SEC issues and the crypto downturn. Many things are pointing towards the direction that Coinbase is here to stay, that it will survive the regulatory onslaught and will come out even stronger.
A long here is a safe bet imo.
The fact that the SEC action is not scaring investors away, is a bullish sign in itself. However, as more and more traditional financial institutions name Coinbase as Surveillance Partner in Bitcoin ETF filings, the more the price of
COIN
will keep rising. In addition to the above, any upward movement of Bitcoin and crypto, in general, is set to benefit Coinbase with additional revenue, partnerships and extra value created for customers and investors.
COIN
is up 11% today, 25% this week and 119% up year to date, despite the SEC issues and the crypto downturn. Many things are pointing towards the direction that Coinbase is here to stay, that it will survive the regulatory onslaught and will come out even stronger. A long here is a safe bet imo.
