Coinbase Global Inc. ($COIN) Stock Forecast: Up 5.9% Today

What is Coinbase Global Inc.?

Coinbase Global Inc (COIN) is a leading cryptocurrency exchange platform that allows users to buy, sell, and store various cryptocurrencies. The overall market sentiment towards cryptocurrencies has been positive, with increasing mainstream adoption and regulatory acceptance.

Why is Coinbase Global Inc. going up?

COIN stock is up 5.9% on Nov 5, 2024 14:41

• Cathie Wood's decision to make significant trades, including in COIN, could have boosted investor confidence in the company's future prospects, leading to a bullish movement in the stock.
• The call for a leadership shift at the SEC by the Blockchain Association amidst revelations of financial burdens on crypto firms may have indirectly benefited COIN as it operates in the crypto space.
• The legal actions and class action lawsuits against COIN might have initially caused some uncertainty and volatility in the stock price, but the bullish movement suggests that investors are looking past these legal challenges and focusing on the long-term potential of the company.
• Overall, the positive sentiment towards cryptocurrencies and COIN's position as a key player in the industry likely contributed to the strong bullish movement in the stock today.

COIN Price Chart

COIN Technical Analysis

COIN News

Cathie Wood's Latest Shake-up: Dumps Palantir And Jack Dorsey's Block Along With Tesla, Buys Amazon And Meta - Amazon.com ( NASDAQ:AMZN )

On Monday, Cathie Wood-led Ark Invest made significant trades, with the most notable being the trades in Coinbase Global Inc COIN, Meta Platforms Inc META, Palantir Technologies Inc PLTR, Block Inc SQ, Tesla Inc TSLA and Amazon.com, Inc AMZN.

https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-

Blockchain Association calls for SEC leadership shift amid 'shameful' FDIC reveal: Law Decoded

The Blockchain Association and Coinbase spotlight SEC and FDIC actions, revealing significant financial burdens on crypto firms.

https://cointelegraph.com/news/blockchain-association-sec-leadership-fdic-criticism

COINBASE GLOBAL, INC. ( NASDAQ: COIN ) DEADLINE ALERT: Bernstein Liebhard LLP Reminds Coinbase Global, Inc. Investors of Upcoming Deadline - Coinbase Glb ( NASDAQ:COIN )

NEW YORK, Nov. 04, 2024 ( GLOBE NEWSWIRE ) -- Bernstein Liebhard LLP: Do you, or did you, own shares of Coinbase Global, Inc. COIN? Did you purchase your shares between April 14, 2021 and July 25, 2024, inclusive? Did you lose money in your investment in Coinbase Global, Inc.?

https://www.benzinga.com/pressreleases/24/11/g41711022/coinbase-global-inc-nasdaq-coin-deadline-alert-bernstein-liebhard-llp-reminds-coinbase-global-inc-

COIN INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Coinbase Global, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit! - Coinbase Glb ( NASDAQ:COIN )

NEW YORK, Nov. 03, 2024 ( GLOBE NEWSWIRE ) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Coinbase Global, Inc. ( "Coinbase" or "the Company" ) COIN and certain of its officers.

https://www.benzinga.com/pressreleases/24/11/g41703764/coin-investor-alert-bronstein-gewirtz-grossman-llc-announces-that-coinbase-global-inc-investors-wi

COIN DEADLINE NOTICE: ROSEN, RECOGNIZED INVESTOR COUNSEL, Encourages Coinbase Global, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important November 12 Deadline in Securities Class Action First Filed by the Firm - COIN - Coinbase Glb ( NASDAQ:COIN )

NEW YORK, Nov. 03, 2024 ( GLOBE NEWSWIRE ) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Coinbase Global, Inc.

https://www.benzinga.com/pressreleases/24/11/g41701659/coin-deadline-notice-rosen-recognized-investor-counsel-encourages-coinbase-global-inc-investors-wi

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Coinbase Global Inc. Price History

01.10.2024 - COIN Stock was down 7.8%

• Coinbase's stock experienced a strong bearish movement due to poor third-quarter results and a tepid revenue outlook.
• The largest single-day drop in over two years for Coinbase's share price was influenced by a broader stock market decline.
• Analysts remain divided on Coinbase's future performance, with some noting possible political tailwinds while others express concerns over the company's earnings prospects.
• Despite surpassing earnings estimates in Q3, higher expenses and a revenue miss contributed to the negative market sentiment towards Coinbase, leading to its worst day in more than a year.

05.10.2024 - COIN Stock was up 5.9%

• Significant trades by Cathie Wood's Ark Invest, including in COIN, could have generated positive sentiment and buying interest in the stock.
• Calls for a leadership shift at the SEC by The Blockchain Association, highlighting the importance of regulatory clarity amidst financial burdens on crypto firms, might have benefitted COIN as a major player in the crypto space.
• Legal actions and investor alerts related to COIN may have caused uncertainty and volatility in the stock, but the overall bullish movement indicates investors focusing on positive news and growth prospects in the crypto industry.
• Despite deadline alerts and class action lawsuits against COIN initially creating selling pressure, the strong bullish movement suggests investors are looking past these legal issues to the company's long-term potential.

30.09.2024 - COIN Stock was down 5.3%

• Today, COIN experienced a strong bearish movement likely due to the following reasons:
• Despite a recent partnership, the market may have reacted negatively, possibly not meeting investors' high expectations.
• The anticipation of Coinbase's Q3 earnings report and Bitcoin's price volatility might have led to profit-taking.
• An upcoming deadline for Coinbase investors to secure counsel before a securities class action could have added uncertainty and selling pressure.
• The comparison with other crypto stocks ahead of their earnings releases could have influenced traders to shift positions, impacting COIN's price negatively.

05.10.2024 - COIN Stock was up 5.9%

• Cathie Wood's decision to make significant trades, including in COIN, could have boosted investor confidence in the company's future prospects, leading to a bullish movement in the stock.
• The call for a leadership shift at the SEC by the Blockchain Association amidst revelations of financial burdens on crypto firms may have indirectly benefited COIN as it operates in the crypto space.
• The legal actions and class action lawsuits against COIN might have initially caused some uncertainty and volatility in the stock price, but the bullish movement suggests that investors are looking past these legal challenges and focusing on the long-term potential of the company.
• Overall, the positive sentiment towards cryptocurrencies and COIN's position as a key player in the industry likely contributed to the strong bullish movement in the stock today.

31.09.2024 - COIN Stock was down 8.7%

• Despite surpassing Q3 earnings estimates with increased revenue, COIN's stock saw a bearish trend, possibly linked to higher expenses.
• Plans to diversify its cryptocurrency portfolio and adopt a long-term asset holding strategy may have concerned investors, impacting the stock in the short run.
• Collaboration with different political administrations and support for pro-crypto candidates might have caused uncertainty among investors, influencing the market sentiment.
• COIN shares dropped in after-hours trading post a Q3 earnings miss due to "softer market conditions," contributing to the current bearish outlook on the stock.

24.09.2024 - COIN Stock was up 5.2%

• The bullish movement in COIN today may be due to positive sentiment from technical analysis pointing to key market support and resistance levels.
• The announcement of Kraken launching its own blockchain, "Ink," in early 2025 within the DeFi sector, potentially boosted optimism in the cryptocurrency market, benefiting companies like Coinbase.
• Financial giants showing bullish tendencies in COIN's options trading, with 41% of traders displaying optimism, likely added to the positive momentum in the stock.
• Overall, today's bullish movement in COIN might be attributed to a mix of technical analysis, favorable industry developments, and optimistic options activity in a context where Ethereum faces pricing challenges.

29.09.2024 - COIN Stock was up 5.0%

• Coinbase's stock (COIN) experienced a strong bullish movement today, likely influenced by the overall positive trend in the cryptocurrency market.
• The rise in Bitcoin prices could have contributed to the increased interest and trading activity on the Coinbase platform, leading to a surge in the company's stock price.
• The news of Gemini receiving preliminary approval for a Major Payment Institution license in Singapore could have also positively impacted investor sentiment towards cryptocurrency-related companies like Coinbase.
• Additionally, the announcement of Coinbase sponsoring an NBA team following the collapse of FTX might have generated positive attention and goodwill towards the company, further boosting its stock performance.

23.09.2024 - COIN Stock was down 6.9%

• The bearish movement in COIN today can be attributed to a combination of factors:
• The bearish sentiment in the market, as indicated by the overall -1.4% move from the prior day's close.
• The cautious outlook on COIN's upcoming earnings report, with analysts suggesting a lack of the right ingredients for a likely earnings beat.
• Despite some bullish options activity by financial giants, the overall market sentiment seems to have weighed more heavily on the stock.
• The broader market movement and the negative trend in Ethereum price may have also contributed to the downward pressure on COIN.

18.09.2024 - COIN Stock was up 5.1%

• The bullish movement in COIN today can be attributed to the positive outlook presented in the "Q4 Guide to Crypto Markets" by Coinbase COIN Institutional and Glassnode, highlighting the growing and maturing crypto market despite Bitcoin's recent price stagnation.
• The Tradepulse Power Inflow Alert indicates a strong buying interest in COIN, with the stock climbing over 5% even on a down day in the broader market, showcasing investor confidence in the company's future prospects.
• The news of a securities class action lawsuit filed against Coinbase Global, Inc. by Rosen Law Firm may have initially caused some uncertainty in the market, reflected in the early decline of the stock. However, the subsequent recovery and significant climb suggest that investors are focusing more on the positive market developments and growth potential outlined in the reports.

18.09.2024 - COIN Stock was up 5.7%

• A fake Coinbase website led to a $20M fraud and a 5-year prison sentence, causing some initial concerns in the market. However, strong bullish movement suggests that investors quickly brushed off these worries.
• Insights on Bitcoin ETFs, Ethereum staking, and stablecoins powering crypto growth in 2024 may have boosted confidence in the future prospects of the crypto market, positioning Coinbase as a key player.
• Amid a down day in the broader market, the Tradepulse Power Inflow Alert pointed to a climb of over 9 points for Coinbase Global Inc., indicating continued bullish sentiment towards the company's potential.
• Overall, positive information on crypto market growth, resilience against fraudulent activities, and significant investor interest likely supported COIN's bullish performance today.

23.09.2024 - COIN Stock was down 5.3%

• The bearish movement in COIN today could be attributed to the overall downward trend in the cryptocurrency market, as indicated by the sinking price of Ethereum.
• The negative sentiment towards COIN might also be influenced by concerns about the company trading at a premium to the industry, leading investors to question the valuation.
• Additionally, the endorsement of Republican Senate candidates by Coinbase CEO Brian Armstrong, while not directly related to the stock performance, could have added a layer of uncertainty for investors, potentially contributing to the bearish movement.

31.09.2024 - COIN Stock was down 15.5%

• Coinbase's stock (COIN) experienced a significant decline after reporting weak earnings and providing a cautious revenue outlook, leading to a 10% drop, the worst day in over a year.
• Despite surpassing earnings estimates in Q3 due to higher revenues, the company's stock still faced a bearish trend, possibly due to concerns about future growth and expenses.
• The polarized views among analysts regarding Coinbase's performance may have contributed to the negative market sentiment and the subsequent decline in the stock price.
• The company's intention to expand its cryptocurrency investment portfolio and work with different political administrations may have added uncertainty to investors, further impacting the bearish movement in the market.