Lols $Coinbase Global, Inc.(COIN)$
No point announcing 'good news' one after another these days when Wall Street is BLEEDING RED. It's all FLUFF. Smarter and more discerning investors would avoid buying in and getting caught in the sudden sell-offs and quick reversal.
For those who FOMO and got in, GET OUT when you can!! π π€£
FOMO Bulls are just trying their luck lol. Once COIN hits $255-$265, even the bulls will sell off and the BEARS will START ROMPING IN . π»π»π»π»
Cathie Wood forsees this trend too. Thus, it comes as no surprise that she has been unloading COIN shares over these 2 days when COIN reaches its 'peak'. The upside to $280 is minimal and downside to $230/$240 much higher. Hence, taking profit in the $255-$265 range is the smartest thing to do for any investor in COIN at the moment. Even though she is a mega believer in the crypto space, she sees it fit to take profits now and come back in when COIN drops lower, and COIN WILL DROP LOWER. ππππππππππππππππππ
In this period of uncertainty where inflation is still high, rate cuts a question mark, rate hikes a possibility, and the SEC hot on the heels of COIN, even a bull case for COIN can reverse pretty quickly into the bears territory. π»π»π»π»π»
Have fun in this game of tug of war!! π« VS π»
What do you guys think?
ππππ
P.S. I don't short sell. I'm staying out and watching on the sidelines for now.
Just raising awareness for those keen on trading COIN to do so safely.
Do not get caught!!! π©π©π©
@Tiger_Earnings @Daily_Discussion @TigerEvents @MillionaireTiger @TigerPicks
Modify on 2024-04-12 15:41
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Agree. There is just too much uncertainty in the crypto space these days and it's just not worth the risk.
The Bitcoin halving event anticipation has already been priced in, which means I don't expect a drastic hike in price of Bircoin when it halves next week.
In fact, if you guys recall, price of Bitcoin and crypto related stocks plunged on the day of Bitcoin Spot ETFs approval. Thanks to outflow from $Grayscale Bitcoin Trust(GBTC)$ .
From Jan till now, outflows from Grayscale caused Bitcoin's price to drop TWICE. And it may happen a third time.
Note that Grayscale transfered 6200 Bitcoins worth $434mil to Coinbase recently, sparking speculations that they are ready to sell Bitcoin, potentially impacting market prices of Bitcoin and crypto related stocks.
$Coinbase Global, Inc.(COIN)$
The bears came rolling in π»π» , though the bulls fought hard I must say ππ