The Impact Of Bitcoin (BTC) Also Dragged Coinbase Shares (COIN) To The Lowest Level - Kakiforex.com - Financial Market Media No. 1 in the World The Impact Of Bitcoin (BTC) Also Dragged Coinbase Shares (COIN) To The Lowest Level The Impact Of Bitcoin (BTC) Also Dragged Coinbase Shares (COIN) To The Lowest Level

May 18, 2021

The Impact Of Bitcoin (BTC) Also Dragged Coinbase Shares (COIN) To The Lowest Level

 The impact of the decline in the price of Bitcoin (BTC) not only dragged down the sharp decline of the entire crypto market but also brought Coinbase (COIN) shares to their lowest level since its listing on the Nasdaq on April 14.


Since the emergence of COIN in the stock market, its price has seen a decline below the level of the direct listing price, $ 381 and the reference price, $ 250 to a value of $ 245.


At the same time, the COIN valuation also declined from a high of $ 100 billion to the current valuation, $ 49 billion.



Analysts including New Constructs CEO David Trainer think the price of COIN is critical as it is unlikely to fall below $ 100.


The record coincidentally is in line with the sharp decline in BTC prices, around 35% to put pressure on blockchain -related stocks such as Riot Blockchain (RIOT) and Marathon Digital Holdings (MARA).


In fact, the prices of RIOT and MARA are also seen to be affected by the price movement since the bull market in 2017-2018. So it is not impossible that for this year, these two stocks will follow the development of Bitcoin price, just like the previous year.


Currently, the COIN price closes at $ 248, down almost 4% in 24 hours.