Topic: April 14, Coinbase IPO and pump on bitcoin? - page 3. (Read 585 times)
It is quite confusing to hear all these self-contradictory statements about Coinbase. The latest news is that rather than going for the IPO, they will go for direct listing in NASDAQ. If it was IPO, then we could have made rough calculations about the valuation. But since that is not the case, there will be a lot of suspense before 14th April, and then extreme volatility once the stock gets listed on 14th. The real valuation will be known only by the end of next week.
The event will be very bullish however I don't want another CME Bitcoin futures launch to happen. Basically everybody was excited about BTC futures and as soon as they launched, it was the peak of the 2017 market.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
It might even get downhill after few days of it on Nasdaq. Can't say it's bad for cryptocurrency though but it might be for Coinbase.
Kevin O'Leary says this $COIN is going to be very volatile whenever there is a bear market in stocks and it gets even more volatile whenever the crypto market experience the bear market again.
Kevin O'Leary? That guy was calling Bitcoin a scam when it was around $10K and when it hit like $50K he finally decided to start investing in it. Also keep in mind that there are many projects which he refused in the past which turned out to be big winners. He doesn't magically have a crystal ball and have wrong predictions from time to time.
Remember the Facebook IPO, many don't remember but it was actually a disaster. It launched at like $40 and kept going downhill from there and didn't pick up until a year later. With Coinbase its very difficult to say what will happen. Even if there is a crypto bear market the price of COIN can still rally if governments keep printing money and stocks keep pumping.
@Fundamentals Of. You might be right but you also oppose what you said. You tell me that the bear is around the corner, however, you also tell me that the current all time high is not the top. How can anyone be certain the bear has not come out of the corner?
@Fundamentals Of. Yes the top was reached on the $60k level. Attempts to pump more than that appear to be weakening. I am only speculating weakness based on the lower high on the RSI and the weakening of pumps. I am not a pessimist, I am a realist. You do not think the bear is always ready to pounce anytime?
I am a realist as well. The bear is always around the corner. But so is the bull. And for now, the bear is not as aggressive as the bull.
I was also saying there was no pump attempt because I think there was no intention whatsoever to pump the price. There were simply traders. There were simply buyers and sellers. And this time, the sellers got the better on this never-ending tug-of-war. But it could flip any second from now.
I guess we were not on the same context with the word top. What I meant was the top as in top. And its current ATH is definitely not its top. It would definitely grow more than that.
The event will be very bullish however I don't want another CME Bitcoin futures launch to happen. Basically everybody was excited about BTC futures and as soon as they launched, it was the peak of the 2017 market.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
I am uncertain about this because everyone is so presently very bullish on bitcoin, however, I am beginning to suspect that bitcoin has reached the top. RSI indicator is creating lower highs. Also, each pump attempts on new all time high are weak. Am I crazy for considering this?
Yes.
Just kidding.
Hehehe in all honesty that was the answer I was hoping everyone would say. Who wants another bear market? Certainly not me.
@Fundamentals Of. Yes the top was reached on the $60k level. Attempts to pump more than that appear to be weakening. I am only speculating weakness based on the lower high on the RSI and the weakening of pumps. I am not a pessimist, I am a realist. You do not think the bear is always ready to pounce anytime?
I am uncertain about this because everyone is so presently very bullish on bitcoin, however, I am beginning to suspect that bitcoin has reached the top. RSI indicator is creating lower highs. Also, each pump attempts on new all time high are weak. Am I crazy for considering this?
What do you mean Bitcoin has reached the top? That the top is just a little beyond the $60,000 level? Come on, you must be kidding or just simply being too pessimistic. Anyway, there were no pump attempts. There was just a few Bitcoin owners who decided to sell some larger amounts that the price slumped a little. Remember this is just a temporary and little slump in the prices. We are still around the $60,000 level.
The event will be very bullish however I don't want another CME Bitcoin futures launch to happen. Basically everybody was excited about BTC futures and as soon as they launched, it was the peak of the 2017 market.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
I am uncertain about this because everyone is so presently very bullish on bitcoin, however, I am beginning to suspect that bitcoin has reached the top. RSI indicator is creating lower highs. Also, each pump attempts on new all time high are weak. Am I crazy for considering this?
Yes.
Just kidding.
The event will be very bullish however I don't want another CME Bitcoin futures launch to happen. Basically everybody was excited about BTC futures and as soon as they launched, it was the peak of the 2017 market.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
I am uncertain about this because everyone is so presently very bullish on bitcoin, however, I am beginning to suspect that bitcoin has reached the top. RSI indicator is creating lower highs. Also, each pump attempts on new all time high are weak. Am I crazy for considering this?
The price of Bitcoin jumped over 4 times in the span of a few months, of course it is bound to slow down at some point. I think some people get exceptionally greedy when they see such numbers but it was inevitable to level off at some point. I'd be quite happy to see slow and steady progress over the next few years, even 10% per year, rather than expecting it to jump another 400%. There is also the fact that the higher bitcoin goes, the harder it gets to double or triple in value - because it has already taken 10 years to get to the current price levels. Just be slow and patient, add to your holdings when you can and be grateful for any dips that come along.
However, is Coinbase’ IPO another way or is the IPO positive only for Coinbase?
IMHO, it's a different market and only Coinbase is going to get the benefit of this. But somehow it's going to bring positivity to the bitcoin market if it will attract more traditional investors and would likely try the platform itself and might encourage them to buy bitcoin out of their curiosity and probably as part of support to the IPO. But we shall see the effect of it on an instant on that set date. If ever it will affect the bitcoin market positively then that's more preferred by most of us. 
The event will be very bullish however I don't want another CME Bitcoin futures launch to happen. Basically everybody was excited about BTC futures and as soon as they launched, it was the peak of the 2017 market.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
It might even get downhill after few days of it on Nasdaq. Can't say it's bad for cryptocurrency though but it might be for Coinbase.
Kevin O'Leary says this $COIN is going to be very volatile whenever there is a bear market in stocks and it gets even more volatile whenever the crypto market experience the bear market again.
Hopefully, Coinbas IPO can pump bitcoin to break $60k and still increase. Otherwise, the price will be more volatile, as we said before.
But no matter what will happen to bitcoin, I still believe that bitcoin now on the right track to increase and invite more people to invest in bitcoin, and what bitcoin show to us now can convince people to use bitcoin for their long-term investment.
So far, bitcoin price stays around $55k-$59k-$60k, and I guess that will still be like that, except there is a flash dump or pump that will make the price swing to any price level position.
The event will be very bullish however I don't want another CME Bitcoin futures launch to happen. Basically everybody was excited about BTC futures and as soon as they launched, it was the peak of the 2017 market.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
It might even get downhill after few days of it on Nasdaq. Can't say it's bad for cryptocurrency though but it might be for Coinbase.
Kevin O'Leary says this $COIN is going to be very volatile whenever there is a bear market in stocks and it gets even more volatile whenever the crypto market experience the bear market again.
The event will be very bullish however I don't want another CME Bitcoin futures launch to happen. Basically everybody was excited about BTC futures and as soon as they launched, it was the peak of the 2017 market.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
With Coinbase IPO it might be the exact same event. The stock might be a huge hit and it will directly affect BTC and cause it and other cryptos to rally however there is a chance that it might peak then and start to go down hill.
I wouldn't categorize it as weaker. I'd say the market is looking stronger. It has built solid support in the $50,000s. Rather than leading up to the typical blow off top and huge crash, I think what we're seeing, after that initial surge from $10k to $50k+, is more stable sustained growth happening. That way Bitcoin keeps growing in 2022, 2023, and beyond, rather than a big boom this year and then a long crypto winter.
Anyway, no idea if Coinbase IPO will cause a pump. That'd be great if a bunch of early investors in Coinbase sold their shares on the IPO and put it into Bitcoin! Would be a smart move for any of them if they do that!
Anyway, no idea if Coinbase IPO will cause a pump. That'd be great if a bunch of early investors in Coinbase sold their shares on the IPO and put it into Bitcoin! Would be a smart move for any of them if they do that!
If you ask me, bitcoin presently is slowing down with the pumps becoming weaker on the market. I reckon only more institutional investors’ billions can push this to the predicted $100k target and it appears an approval of an ETF by the US SEC might be one of the ways.
However, is Coinbase’ IPO another way or is the IPO positive only for Coinbase?
Coinbase announced that the SEC validated its proposal for a public direct listing of its stock. The ticker “COIN” will officially start trading on the Nasdaq Global Select Market on Apr. 14, 2021.
In another press statement, Coinbase also announced they would hold a conference call on Apr. 6 to discuss the financial results of Q1 2021.
These are expected to be positive as the crypto market as a whole enjoyed an excellent first quarter with levels of retail interest unseen in years.
Read in full https://cryptobriefing.com/coinbase-announces-april-14th-direct-listing/
However, is Coinbase’ IPO another way or is the IPO positive only for Coinbase?
Coinbase announced that the SEC validated its proposal for a public direct listing of its stock. The ticker “COIN” will officially start trading on the Nasdaq Global Select Market on Apr. 14, 2021.
In another press statement, Coinbase also announced they would hold a conference call on Apr. 6 to discuss the financial results of Q1 2021.
These are expected to be positive as the crypto market as a whole enjoyed an excellent first quarter with levels of retail interest unseen in years.
Read in full https://cryptobriefing.com/coinbase-announces-april-14th-direct-listing/
Do you call this weak pumps?
I don't.
We get used to the good stuff right away and it seems that if we encounter a little resistance after we've been beating ATH after ATH almost daily, there's something wrong.
Regarding Coinbase, I understand that it may have some influence, but what's going to get us to $100k is going to be the aggregate of institutional demand and reduced supply.
Yes I know bitcoin has been the best performing asset if comparing it to traditional assets, however, what I have observed was since February 21 the pumps have encountered much resistance.
Coinbase IPO might not affect bitcoin and the cryptospace directly, however, it might help larp our cause to the mainstream and say the cryptospace has arrived hehehe. This might attract more investments on bitcoin from institutional investors.
I think that this April 14 what can happen is a great volatility of the market, many who are betting that bitcoin will go down and give a correction of $ 50k, although it is only a market speculation I do not think that such a strong turn will be taken. Given that institutional investment has come in strongly and continues to come in, what he seems to think is something unreal, like all the institutions agreeing to go n Short, but that is something very isolated.
However, this date makes me somewhat uncomfortable with the market reaction, the sources that I have reviewed bet that the price of bitcoin will drop, it may be a trap for weak hands and thus sell to take advantage of strong hands to buy cheap.
However, this date makes me somewhat uncomfortable with the market reaction, the sources that I have reviewed bet that the price of bitcoin will drop, it may be a trap for weak hands and thus sell to take advantage of strong hands to buy cheap.
Short term wise, I do expect there to be some positive implications on BTC prices.
After all, Coinbase's IPO does fit in with the prevailing narrative of BTC going institutional - and investment banks are going to absolutely love the layer of legitimacy that one of the biggest Bitcoin exchanges going public brings.
But in the long run, this honestly does not matter. No centralised exchange exerts a large enough influence over BTC to affect fundamentals meaningfully over the long term. Besides, CB's relevance is declining by the day with their terrible customer service.
After all, Coinbase's IPO does fit in with the prevailing narrative of BTC going institutional - and investment banks are going to absolutely love the layer of legitimacy that one of the biggest Bitcoin exchanges going public brings.
But in the long run, this honestly does not matter. No centralised exchange exerts a large enough influence over BTC to affect fundamentals meaningfully over the long term. Besides, CB's relevance is declining by the day with their terrible customer service.
Adding more details into Coinbase's upcoming IPO here is their Prospectus Document (Form S-1)
Revenue (in Thousands)
2020 - 1,141,167
2019 - 482,949
Operating Income/(Loss) (in Thousands)
2020 - 408,951
2019 - (45,783)
These are pretty good numbers for a company who will be offering their shares in the public and if you explore the prospectus more you'll find out more about the revenue breakdown of Coinbase showing that their highest revenue earning segment is from their Retail part which includes the buying and selling of cryptocurrencies within their service. Other than that they also provide that the number of "verified" users they have is 43 Million in 2020 as compared to 32 Million users in 2019. So I think its safe to confirm that there is at least 43 million actual people who are aware of cryptocurrencies on Coinbase alone. But will this IPO pump Bitcoin? I don't think so, we are just talking about a public offering of a company that is just related to the crypto industry so far I don't see any direct connection nor kind of play that will traders relate this IPO to the price of Bitcoin.
Revenue (in Thousands)
2020 - 1,141,167
2019 - 482,949
Operating Income/(Loss) (in Thousands)
2020 - 408,951
2019 - (45,783)
These are pretty good numbers for a company who will be offering their shares in the public and if you explore the prospectus more you'll find out more about the revenue breakdown of Coinbase showing that their highest revenue earning segment is from their Retail part which includes the buying and selling of cryptocurrencies within their service. Other than that they also provide that the number of "verified" users they have is 43 Million in 2020 as compared to 32 Million users in 2019. So I think its safe to confirm that there is at least 43 million actual people who are aware of cryptocurrencies on Coinbase alone. But will this IPO pump Bitcoin? I don't think so, we are just talking about a public offering of a company that is just related to the crypto industry so far I don't see any direct connection nor kind of play that will traders relate this IPO to the price of Bitcoin.
OP, when you are in doubt, always zoom out. Bitcoin is simply consolidating at the current level of $50,000 - $60,000. It must establish that new floor to start surging back to its path to $100,000.
Shower thought, what if Bitcoin’s next bottom during the next bear cycle is $60,000 or higher?
Depend on the next ATH. I believe the next big dump will around 30-40% of the ATH price so if bitcoin increases up to $100000, $60000 will be affordable Shower thought, what if Bitcoin’s next bottom during the next bear cycle is $60,000 or higher?
OP, if you are a long-term holder, nothing needs to worry about bitcoin price. Moreover, the chart has shown the 6 consecutive green monthly candles so unless there is a engulf candle closing after April, there is no chance for the bear to take over the market and the price will pursue the next ATH until it reaches $100000
Shower thought, what if Bitcoin’s next bottom during the next bear cycle is $60,000 or higher?
And they, for those no coiners and bitcoin haters, $60k is still a failure?
Regarding the Coinbase IPO, if we are going to see a pump on bitcoin, we should have felt it already. But it seems that that price is just stabilising around the $60k zone, nothing spectacular to move the price to $70k or even higher.
We might see some good price movement with "COIN" though, but not into bitcoin or the overall crypto market.
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