To The Moon

Bitcoin recently surged to $89,000 before pulling back, with Coinbase following suit, peaking at $340 and then dipping.

With many now predicting Bitcoin could reach the $100,000 milestone by year-end, the question is whether this minor pullback signals a brief consolidation or a more significant downturn.

Will Coinbase ride this potential BTC wave to an all-time high in the coming months?

🎁Special Notes: Whoever showed up on the” What the Tigers Say” column will receive 100 Tiger Coins and an exclusive interview invitation to honor your contribution.

Click titles to read the full analysis:

1. @Mickey082024: Coin Soars to $350 or possible running on low fuel to $250?

Key Points:

Market Volatility, The cryptocurrency market is highly volatile, which can impact Coinbase's revenue and profitability. Intense competition from other cryptocurrency exchanges and financial services can affect Coinbase's market share. Day-to-day operations challenges, system outages or errors had impact on Coinbase's performance in the past

To clarify, I'm more focused on Coinbase's long-term potential rather than short-term results. If you're looking for short-term trades, this isn't the analysis for you. However, if you're interested in stocks with the potential for significant growth over the next decade, Coinbase fits that profile.

Financial Breakdown

Let's break down the financials. The company reported $1.2 billion in revenue for the quarter, with a net income of $75 million, continuing its streak of profitability. Notably, Coinbase's subscription and services revenue reached $556 million, and the company announced a $1 billion share repurchase program. This indicates that Coinbase is in a strong financial position, holding a large amount of cash on its balance sheet.

However, revenue from customer transactions, Coinbase's largest source of income, fell by nearly 50% from the previous quarter due to a slowdown in crypto market activity. This is a reminder that trading volatility typically benefits Coinbase, and the current downturn has resulted in lower earnings.

Subscription and Services Growth

Subscription and services revenue, on the other hand, is steadily growing. Coinbase is making money through blockchain rewards, stablecoin transactions, and other services. While trading will remain a part of the business, the future growth for Coinbase lies in these innovative areas. The company's growth in blockchain infrastructure and stablecoin-related services is the focus for long-term investors.

Future Outlook

Coinbase has a solid balance sheet with $8.2 billion in cash, and the company is now looking to repurchase shares, especially if the stock price continues to fall. Despite the drop in stock price following the earnings report, there’s still a lot of potential for Coinbase's future as blockchain and cryptocurrency continue to evolve. While the next year or two may be volatile, the long-term outlook remains strong, and Coinbase is well-positioned to lead in the digital financial infrastructure space.

Short Term forecast

Based on current analyst forecasts, Coinbase's stock has a potential upside, with some price targets reaching as high as $345. However, the average price target is around $246.28, indicating a possible downside from the current price.

2. @neo26000:

Key Points:

If Bitcoin reaches $100k, the big question is whether to sell or hold out for further gains. Many are likely eyeing that level as a potential exit point, which creates uncertainty about what happens next. Will it keep rising, or will $100k trigger a sell-off? This uncertainty makes it tough to decide whether to stay in the market or step aside. Given the risk and the lack of clarity on the next move, I'm choosing to sit on the sidelines for now rather than trying to time the market in such unpredictable conditions.

3. @nomadic_m:

Key Points:

If crypto continuously soars under Trump's administration, selling puts to earn premium could be a savvy move. Trump's pro-crypto stance and promises to deregulate could fuel the market's growth, making it an attractive opportunity for traders.

Potential Trading Strategies:

- Selling Puts: Earn premium by selling put options on crypto assets, betting on continued growth.

- Call Options: Buy call options to ride the upward trend.

- Long Positions: Hold long positions in crypto assets expected to benefit from Trump's policies.

4. @jayc :

Key Points:

Coinbase shares surged 20% to a three-year high Monday as investors bet that higher trading volumes and a more favorable regulatory environment under the incoming Trump Administration could benefit the crypto exchange. The stock broke out above the top trendline of a seven-month descending channel last week on above-average volume, with follow-through buying continuing into this week. We should watch key overhead levels on the Coinbase chart around $369, $430, and $695, while monitoring an important support area near $220.

5. @ZEROHERO:

Key Points:

Sell put on COIN for 3 days from this pullback expecting it to stay above 280 by end of this week. CPI on Wednesday should help the market before Jerome Powell returns to pump up the volume on Thursday. Otherwise roll it down or own the shares to wait for BTC to try 98k next.

6. @Terencelim:

Key Points:

And its only the start of the cypto bull... and btc has yet to hit 100k... Easily gonna surpass ATH for this stock.

7. @BlackTiger:

Key Points:

Crypto market jumped over the weekend. Premarket closed some position. Waiting for another dipped for another purchase.

Questions for you:

Will the small pullback turn to a consolidation phase or big pullback?

Will Coinbase ride this potential BTC wave to an all-time high in the coming months?

🎁Prizes

🐯 All valid comments on the following post will receive 5 Tiger Coins.

We strongly recommend selecting the "Also repost" button when posting a comment to receive more rewards.

⏰Duration

• 20 Nov (24pm EDT)