Coinbase shares fell 50 %from all-time high, shares follow the ups and downs of Bitcoin-Finance

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About nine months ago, the IPO (IPO) from Coinbase started via direct listing on Nasdaq, and the shares were exchanged on April 16, 2021 for $ 342 per share. Since then, the coin base shares have been almost half of this value and today coin has been swapped for more than 45 % lower at $ 187 per unit.

Coinbase follows Bitcoin with a price drop of 45 % compared to ATH

Münzbasis (nasdaq: coin ) is a popular cryptofirma and digital asset Exchange with 8.8 million monthly users during their highlight in the second quarter of 2021. The company founded by Fred and Brian Armstrong in 2012 officially went to the stock exchange on NASDAQ on NASDAQ. While the company goes into its tenth year of operation, coin shares on April 16 and November 12, 2021 were traded for much less than the value of the share.

When Coin came onto the market for the first time, the Nasdaq stock exchange decided on an initial reference price of $ 250 per share. Two days later-and while Bitcoin ( bitcoin ) reached $ 64,000 per unit-COIN achieved a maximum of $ 342 per share. The coin base share lost value after that day and fell to a consolidated low of $ 242 in the months of May to September, with a few jumps into the range of $ 250-278 during this time.

The coinbase-aktien fell by 50 % All-time high, the share follows the heights and depths of Bitcoin
Coinbase-share: February 2022, closing price>

The shares traded on the Nasdaq also follow Bitcoin ’s fluctuations like many crypto-aasset Investment class are committed. So when bitcoin climbed to another high of over 64,000 to another high of 69,000 USD, Coin reached another price high of 342 USD. The share is now almost half of the maximum price of $ 342 and is 45.16 % lower in value and is traded at $ 187 per share. Similar to Bitcoin The price is much lower than the ATH and in December Coin had a short in addition to the temporary comeback of the crypto economy this month Holiday rally.

"The attitude of the FED on interest rates could harm the dynamics of the share," says the Boston data analysis company Treffen

In a recent blog entry, asked the data and analysis company based in Boston, whether that Coinbase share after such a considerable correction is a good purchase. "The share is currently being traded with almost the 22-folds of our forecast profits for 2021, which is not a particularly high assessment for a highly profitable and futuristic stock with a solid long-term profit potential," said Treffis on Wednesday. "On the perspective: The Nettomarge of Coinbase was 57 %in the first three quarters of 2021."

The data and analysis company added:

The cryptocurrency market is naturally cyclical, and the chances are good that we could approach a market high in view of the attitude of the Fed. This could affect the dynamics for Coinbase at short notice. Nevertheless, the share could be worth a look for long -term investors.

What do you think about the current value of the Coinbase share and the considerable correction that shares have experienced since your ATH? Let us know your opinion on this topic in the comment area below.

Jamie Redman

Jamie Redman is the news manager at Bitcoin.com News and a Journalist for Financial Technology living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com news about the disruptive protocols that arise today.




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