Coinbase Global Inc. ($COIN) Stock Forecast: Down 6.1% Today

What is Coinbase Global Inc.?

COIN is the ticker symbol for Coinbase Global, Inc., the leading US crypto exchange. The company has been experiencing significant developments and attention in the market recently.

Why is Coinbase Global Inc. going down?

COIN stock is down 6.1% on Dec 10, 2024 14:43

• The bearish movement in COIN today could be attributed to profit-taking by investors after a period of strong bullish momentum.
• The news about investors being urged to recover losses through legal action might have created uncertainty and negative sentiment around the stock.
• Despite the positive analyst report and increased trading volumes in December, the overall market sentiment or external factors may have outweighed these positive developments, leading to the bearish movement.
• The bullish bets in COIN options by smart money investors might indicate a potential turnaround in the near future, as market players anticipate a shift in sentiment towards the stock.

COIN Price Chart

COIN Technical Analysis

COIN News

Bull of the Day: Coinbase ( COIN )

Coinbase, the leading US crypto exchange, is poised to benefit dramatically from a pro-crypto Trump administration, potential new altcoin ETFs, and increased corporate adoption of Bitcoin.

https://www.zacks.com/commentary/2381153/bull-of-the-day-coinbase-coin

Coinbase Global, Inc. Investors: Please contact the Portnoy Law Firm to recover your losses. November 12, 2024 Deadline to file Lead Plaintiff Motion - Coinbase Glb ( NASDAQ:COIN )

Investors can contact the law firm at no cost to learn more about recovering their losses

https://www.benzinga.com/pressreleases/24/12/g42402915/coinbase-global-inc-investors-please-contact-the-portnoy-law-firm-to-recover-your-losses-november-

Coinbase Seeing 'Landmark Month' In December, Notes Optimistic Analyst Report - Coinbase Glb ( NASDAQ:COIN )

Needham & Company has raised Coinbase's COIN price target to $420 from $375, citing record-breaking December trading volumes and heightened altcoin activity. What Happened: "Elevated volatility and a retail-driven surge have made December a landmark month for the platform," Needham analysts ...

https://www.benzinga.com/markets/cryptocurrency/24/12/42398134/coinbase-seeing-landmark-month-in-december-notes-optimistic-analyst-report

Smart Money Is Betting Big In COIN Options - Coinbase Glb ( NASDAQ:COIN )

Deep-pocketed investors have adopted a bullish approach towards Coinbase Glb COIN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today.

https://www.benzinga.com/insights/options/24/12/42391614/smart-money-is-betting-big-in-coin-options

Palantir Co-Founder Joe Lonsdale Cheers Trump's New SEC Pick, Calls Out Gary Gensler For 'Purposely' Not Defining Crypto Rules - Grayscale Bitcoin Mini Trust ( BTC ) Common units of fractional undivided beneficial interest ( ARCA:BTC )

Palantir Technologies Inc. PLTR co-founder Joe Lonsdale cheered President-elect Donald Trump's pick to lead the U.S. Securities and Exchange Commission ( SEC ) , Paul Atkins, while calling out Gary Gensler's attitude towards the cryptocurrency industry.

https://www.benzinga.com/24/12/42377387/palantir-co-founder-joe-lonsdale-cheers-trumps-new-sec-pick-calls-out-gary-gensler-for-purposely-not-defining-cry

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Coinbase Global Inc. Price History

18.10.2024 - COIN Stock was up 5.1%

• COIN stock experienced a strong bullish movement, rising over 9% at the high of the day.
• The surge in COIN's price could be attributed to the news of a Power Inflow alert received by Coinbase Global Inc., indicating significant interest from institutional investors and traders following smart money flows.
• Additionally, the announcement of a potential listing of meme coin Floki on Coinbase might have generated excitement and optimism among investors, contributing to the bullish momentum of COIN.
• The overall positive sentiment in the cryptocurrency market, fueled by Bitcoin's surge to a new all-time high and the increasing popularity of mobile crypto apps, likely provided a favorable environment for COIN's price appreciation.

26.10.2024 - COIN Stock was down 5.3%

• The bearish movement in COIN today can be attributed to the overall decline in Bitcoin-related stocks, including Coinbase, as Bitcoin's rally towards $100,000 stalled.
• The surge in bearish options activity on COIN indicates that financial giants are taking a cautious stance on the stock, possibly due to concerns about its weak return on capital.
• Despite COIN's efforts to accelerate growth and innovation, the market sentiment seems to be shifting towards a more bearish outlook, influenced by the broader trends in the cryptocurrency space.
• The prediction of massive institutional inflows into Bitcoin ETFs in the future might have also contributed to the bearish sentiment on COIN, as investors could be reallocating their funds towards other cryptocurrency investment opportunities.

05.11.2024 - COIN Stock was up 7.7%

• The positive movement in COIN today is linked to the overall optimistic outlook in the cryptocurrency market, largely influenced by Bitcoin's historic achievement of $100,000 for the first time.
• Coinbase's venture into Southeast Asia by supporting stablecoin development in Thailand and the Philippines is seen as a factor boosting investor confidence in the company's growth prospects in new regions.
• Discussions of Coinbase in investment circles alongside key players in the crypto sector like MicroStrategy underscore the company's strong position and credibility in the industry.
• Identified as a prominent player in the crypto realm with a keen focus on global adoption and forming strategic partnerships, Coinbase's stock is anticipated to continue thriving amidst the rising mainstream acceptance of cryptocurrencies and its robust financial position.

06.11.2024 - COIN Stock was down 5.2%

• The bearish movement in COIN today could be attributed to profit-taking by investors after a period of rapid growth in the cryptocurrency market.
• The expansion into Southeast Asia and involvement in stablecoin initiatives may have initially boosted investor confidence but was not enough to sustain the bullish momentum.
• The correlation between COIN's price movement and Bitcoin's surge past $100,000 suggests that investors may be rotating their funds towards other crypto-focused stocks like NVDA and BLK, which are also benefiting from the ongoing Bitcoin rally.
• Despite the positive developments and increased interest in the cryptocurrency sector, the bearish movement in COIN today indicates that market participants may be cautious about the sustainability of the current market euphoria.

22.10.2024 - COIN Stock was down 6.0%

• The bearish movement in COIN today can be attributed to several factors:
• The possibility of a Trump election victory impacting stocks like COIN causing uncertainty and leading to selling pressure.
• Positive mentions by Jim Cramer as a "winner," though the overall market sentiment towards COIN possibly overshadowed by broader market trends.
• The surge in a Solana-based meme coin, Bonk, and its relative strength compared to other meme coins could have diverted attention from traditional cryptocurrencies like those traded on Coinbase.
• General market sentiment towards tech and growth stocks might have influenced the bearish movement in COIN today.

10.11.2024 - COIN Stock was down 6.1%

• The bearish movement in COIN today could be attributed to profit-taking by investors after a period of strong bullish momentum.
• The news about investors being urged to recover losses through legal action might have created uncertainty and negative sentiment around the stock.
• Despite the positive analyst report and increased trading volumes in December, the overall market sentiment or external factors may have outweighed these positive developments, leading to the bearish movement.
• The bullish bets in COIN options by smart money investors might indicate a potential turnaround in the near future, as market players anticipate a shift in sentiment towards the stock.

27.10.2024 - COIN Stock was up 5.8%

• Today's upward movement in COIN is linked to favorable revisions in earnings estimates, signaling growing confidence in the company's financial performance.
• The speculation surrounding Pepe, a meme coin potentially being added to platforms like Coinbase and Robinhood alongside popular cryptocurrencies like Dogecoin and Shiba Inu, has triggered positive market sentiment.
• Disclosure of Coinbase's net worth to the public could have enhanced transparency and investor confidence in the company's valuation, contributing to the current uptrend.
• The optimistic positions taken by investors in the options market further support the favorable outlook on Coinbase, hinting at a potential uptick in buying interest and price appreciation in the short term.

04.11.2024 - COIN Stock was up 5.2%

• COIN displayed a notable upward trend in its performance today.
• The introduction of a meme coin called "Moo Deng" on Coinbase's listing roadmap possibly influenced the favorable market outlook.
• Ending associations with legal firms that recruit 'anti-crypto' SEC personnel might have bolstered investor trust in Coinbase's support for the cryptocurrency sector.
• Positive market sentiment, coupled with strategic collaborations and increasing global adoption of cryptocurrencies, likely contributed to COIN's positive momentum.

20.10.2024 - COIN Stock was down 5.5%

• The bearish movement in COIN today could be attributed to profit-taking by investors after a period of strong gains.
• The positive sentiment towards meme coins like Bonk and Floki, as well as the potential listing of Floki on Coinbase, may have diverted some attention and investment away from COIN.
• Jim Cramer's endorsement of COIN as a "winner" could have provided some support, but the overall market sentiment might have overshadowed this recommendation.
• The broader market focus on meme coins and other cryptocurrencies like Dogecoin and Shiba Inu, as well as the performance of other mid-cap and large-cap stocks, could have influenced the bearish movement in COIN today.

09.11.2024 - COIN Stock was down 5.2%

• Coinbase's stock, COIN, exhibited bearish movement despite positive analyst reports and increased options activity.
• Despite bullish sentiment from smart money and a surge in cryptocurrency-related stocks like NVDA, BLK, and SHOP, this did not result in a positive market movement for Coinbase.
• The market might have responded negatively to the overall bearish sentiment in the cryptocurrency market, despite specific positive developments for Coinbase.
• The bearish movement in COIN could have been influenced by the lack of defining crypto rules and regulatory uncertainties, as noted by Palantir co-founder Joe Lonsdale.

09.11.2024 - COIN Stock was down 5.2%

• Smart money is betting big on COIN options, indicating a bullish sentiment towards the stock. However, despite this, the stock experienced a bearish movement today.
• The positive news surrounding crypto-focused stocks like COIN and the overall surge in Bitcoin prices above $100,000 could have led to profit-taking in COIN, causing the bearish movement.
• The lack of clear regulatory guidelines for the cryptocurrency industry might have added to the uncertainty and contributed to the downward pressure on COIN.
• While COIN remains a key player in the crypto market, the intense competition and regulatory challenges could be factors influencing the stock's price movement despite the positive industry outlook.

21.10.2024 - COIN Stock was down 5.0%

• The bearish movement in COIN today could be attributed to the overall impact of the Trump election victory and the Republican "mandate."
• Despite the positive sentiment towards meme coins like Bonk and Floki, the focus on these alternative cryptocurrencies might have diverted attention away from established platforms like Coinbase, potentially affecting its market performance.
• Jim Cramer's endorsement of Coinbase as a "winner" might not have been enough to counteract broader market trends and investor sentiment, leading to the bearish movement observed today.
• The speculation surrounding Coinbase potentially listing Floki could have created uncertainty among investors, contributing to the downward pressure on COIN's stock price.