Why is Coinbase stock down today? Bitcoin slump
Shares of cryptocurrency exchange $Coinbase(COIN.US$wraps up Monday with a 5.1% decline as the world's largest digital token, $Bitcoin(BTC.CC$, -6.3% drifts lower to $55.7K per token.
Shares of COIN slightly rises 0.2% in after-hours trading.
Coinbase's price outpaces Bitcoin by a wide margin since the day the company started trading on the Nasdaq. But the two trends appear to move similarly, as seen in the chart below
Last Friday, Hayden Capital disclosed to investors that the firm opened a position in Coinbase as crypto hits the mainstream.
Most crypto-related exchange/platform stocks, including $NET SAVINGS LINK INC(NSAV.US$-6.8%, $Robinhood(HOOD.US$-4%, Plus500 (OTC:PLSQF) -2%, $BIGG DIGITAL ASSETS INC(BBKCF.US$-8.5% fall on Monday amid Bitcoin's continued weakness.
Previously, (Nov. 10) Coinbase shares fell on disappointing Q3.
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Austin ONeill : the more volatility in crypto prices (up **OR** down) the more coinbase makes
Wyatt lincoln : Now virtual coins are worth only $2T. So cheap
Sacai Luis Wyatt lincoln: Yeah, and the dollar is like 30 percent
Rann New : Maybe everyone sold COIN and bought RIVN. Bad idea. I just bought more Steel stocks best idea.
sPhCqxPcWZ : Cathy would buy more here, right? LoL
I3kmETh4aA : Because crypto are all 100% grifts, worthless and scams. Maybe that's why. I would rather hold toilet paper rolls as investments than crypto which is a made up entity designed to grift from a large minority of stupid people over long periods of time.
Happymoooooo : no position here but i suppose this is the bitcoin thread of the night...
anyhow,
rising noise on rising DXY and the upcoming mt gox payment distributions is getting some in the space jittery... fundamentally bitcoin has never been stronger and on-chain we remain strong but these whales will use any fundamental trigger/event or uncertainty around such to rebalance their portfolio AKA rebalance your portfolio AKA dump on the market to shake out retailers
so, eyes open, etc etc
Reno Gianan :
JACK454 I3kmETh4aA: well it's strange more millionaire than Ever before. so I think that crypto is not prejudice as the all mighty dollar. but I felt same as you a few years ago. And I was living in a tent. now I own my land my car Mt camper. all because of a couple hundred in meme coins. watch whoever holds on and buys the dip will be well rewarded. it's enetible plastic will be the source of money. it may not be crypto but my grandkids will have only money on white sheets. that's my hypothesis. I am a amateur. no nothing but I was investing couple 20's a week and never got any where with stock's. Crypto being as volatile couple hundred not even penny coins made me really really good money take ape I bought at 11cents. only had 70 bucks could you imagine if I had money. but I still only invest in coins I can buy millions. if I never get Blessed again. I feel my kids and grandchildren will be set. Crypto is the only chance I have at leaving a legacy. I was a millionaire or not millionaire had a 3and one half a year business. for 12 years. jewelry business. when desert storm hit wiped me out. miss managing. RANT OVER. HAPPY INVESTING