News This year, bitcoin prices have more than doubled, and all thanks to the interest of large investors from The Goldman Sachs, Morgan Stanley, and many well-known companies, including Tesla. As you can see, the popular digital currency has finished the consolidation stage that has been observed for the last three months. The upcoming listing of shares of the largest cryptocurrency exchange in the United States, Coinbase, on the NASDAQ, significantly affected the overcoming of a new record high by bitcoin.
The target was to determine the cost for the placement. The upcoming listing represents the most important and final stage on the path of cryptocurrencies from niche technologies to core assets.
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This event is truly historic, as it marks the growth of the binance crypto bot industry, its adoption into the main business. However, some institutional investors are looking with concern towards the long-term prospects of Coinbase and the cryptocurrency sector.
So, the Swiss asset manager Unigestion said that it does not understand all the hype around cryptocurrencies, so it would not buy shares of Coinbase. Hedge funds and retailers are likely to be the first movers and active buyers of these stocks, but this does not mean that these securities will be successful in the long run.
According to regulatory documents, Coinbase accounts for The company's bitcoin stock piak app grew simultaneously with the growth of volumes and prices for bitcoin.
Larry Cermak, director of research at The Block cryptocurrency website, is confident that the exchange's dependence on digital gold will peak as soon as Coinbase shares stabilize after the listing.
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If bitcoin starts to decline in price, then Coinbase's revenue, as well as the value of its shares, will inevitably decline.