Topic: April 14, Coinbase IPO and pump on bitcoin? (Read 585 times)

Think about it this way, when the halving happened price was around 10k, and all throughout the summer the price was around 10k as well, it didn't increase, I do not remember when it started to increase but I remember before the year ended it didn't reach 30k neither, it was under 30k before 2020 ended, so that means we are talking about 3x increase in 2 months or so time when pump started, and another 2x on top of that afterwards, a total of 6x increase from October or so until march, that is very quick but at the same time we were still same price after the halving.

I see this about the same, IPO was great, it will impact the price, but that may not happen for a few more months. Now that Coinbase is a publicly traded company, people will trust them more and more and those huge companies that buy in billions of dollars will pick Coinbase with ease and that will increase the price.

The truth is that everything is relatively new, it is the first time that new ATHs for Bitcoin occur at the same time, a new intrinsic visualization of Bitcoin on Wall Street, every article I read from Wall Street about Coinbase is trying to find more details Of course , Coin's second week is just beginning.

The pumps that everyone expects may not happen now, but investors are seeing great possibilities, of course it is only the beginning, being able to do a long-term analysis is not possible yet, it has no relevant background, I think some will buy and wait for a couple of years to make a profit, I do not think that in the short term there will be very important movements or with some volatility.

Yeah, no more pump, but it's good though, we can get in and enter the picture at cheap price and then see how it goes in the next week. And I think it's normal for Brian and others to really dump their shares in the beginning. Very familiar? sound like crypto pump isn't it ? LOL. It could be a period of accumulation, the calm before the storm before we can see another dump (or pump).

Great if those signs will commence a good outcome and if the familiarity of the pattern would again be fulfilled.
The price was just establishing a strong momentum before recovery happens, that's what we're looking right now while price stabilized at this moment. Panic sellers would regret if they'll let their emotion dominate their decisions, and if they prefer to be patient instead of ranting I'm sure gains will come.

@LUCKMCFLY. I become skeptical when I read articles written similar to that. Sometimes they appear to be paid for advertisments written as an article.

In any case, there was no pump again on COIN. Insiders might be accumulating before the pump. This pattern is very familar hehehe.

There is currently a slight correction in the Bitcoin market, it is also in the Coinbase shares of Coinbase on Wall Street, I think there is no correlation here, it is just a sample of chance, if we take into account that Wall Street is giving it some input to Bitcoin, it is a form of mass adoption that can be given, years ago nobody believed that this moment could come.

In this article they talk about it and how they can buy Coin on Nasdaq, and also Bitcoin has become popular, since being "popular" represents a lot in the world of finance on Wall Street.

Source: https://cryptoslate.com/you-can-now-trade-coinbase-coin-options-on-the-nasdaq/

Of course, on Wall Street they talk about inside information, about how investors can overcome the fall of the shares, a market that will always be latent is that of Bitcoin, if they only see what has grown in price, it is very likely that many they will be interested in investing. A potential PUMP for new investment coming from Wall Street cannot be ruled out, as I said earlier, Bitcoin is gaining exposure.

I wouldn't presume to know what will happen to bitcoin, I mean anything could happen, it is something I do not control. But come on! Bitcoin on proof of stake? That sounds as unreasonable as it gets, we are talking about something that is impossible for bitcoin.

I do think that ethereum proof of stake is not done by just rich people, there are tons of poor people who are fed up with the fact that it costs a lot to use ethereum right now, I tried to send $20 usdt today and it asked $40 for it, how does that make sense at all?

I ended up using BSC instead but it is seriously horrible at ETH right now, if you are dealing in thousands and many people do, you may not care about it, but smaller transactions can't happen there at all anymore. Which is why I think proof of stake was wanted by rich whales who wanted money plus the very low amount people who wanted to be involved.

Coinbase pumped the price to ATH, Armstrong sold his shares at the top, Bitcoin went nuts, then a Chinese coal mine blew up, the hashrate dropped hard, the price plunged and Doge is still fucking going high.
My question is, what's wrong with the world?

yes, according to my notes, launch of BTC futures was done on 10 and 17 december 2017.
however i have not kept the notice.

EDIT: looking at it, i found that:
https://bitcointalksearch.org/topic/m.26490031

Another article by idiots who have no idea how bitcoin and the blockchain technology works.
A centralized shitcoin with a massive premine is trying to increase the power of the owners of those premined coins in having more control over their centralized network so they have chosen an algorithm called Proof of Stake which not only rewards the richest people who own the most amount of that shitcoin (ie. the premine owners) but also gives them much bigger power in controlling the network at virtually no cost while earning money!
Bitcoin will never do such a thing.

Was the listing of bitcoin futures on CME made on December of 2017? I am not quite certain but I remember it was May 2017. In any case, this would be a strange coincidence if the bear market really begun on April 14, the day of Coinbase IPO. I reckon we should not be excited for an ETF hehehehe.

It is even of some opinion of insiders that the IPO made huge money for Armstrong than we think, considered a manipulative move. He sold 5 billion of the token on IPO to acquire bitcoin, the veracity of the information cant be ascertain but there is possibility. Binance is the only exchange that keeps surprising me the token economics that seems not to benefit team and founder. The pump shortlived and had produced the largest single dump with hash rate.

The IPO is just on a bad timing where we heard a lot of bad news with regards to Bitcoin and that’s why the market didn’t react that much but sooner of later, once everything is settled the IPO of coinbase is a big thing. This is a new legal way to attract investors to come into cryptomarket, whales are seeing this positively for sure.

coinbase is not a very big exchange, in comparison with some giants,
it is mainly a gate of entry in the crypto universe.

if it has not changed, bankers resume work on sunday evening since aperture of bitcoin futures.

Another thing to think is that this dump happened on Sunday when the financial markets are closed and big institutions cannot dump their coins. 

The big question is how will the market open trading on Monday ? We are yet to witness that .

They dumped so when they get to the point that most of their investors are selling they'll buy it again, pretty old tricks. I don't know if the current dump of Bitcoin to $50k this day was due to this but I think it's way too related.

@Kemarit. That is certainly good news but I bring you the bad news hehehe. I saw this, however, I do not know where the source of this is. Does anyone know the website to get this information?

Coinbase CFO dumped 100% his COIN. Coinbase CPO dumped 97% hehe.



Source https://mobile.twitter.com/DereckCoatney/status/1383440872679739394

I think Bitcoin current dip was due to a report that Bitcoin Crashes after Accident in Xinjiang. On the other hand, while Cathie Wood's Ark funds bought a big stake in Coinbase.

So I guess we are going to see some good pump next week, because of this news. It closed with a 5% gained already.

@3meek. COIN is down again on day 2 on the Nasdaq. Similar to much of the coins in the cryptospace, COIN might be lacking value investors who would hold it longterm. It would not be shocking if this was pumped and dumped in the next few weeks by speculators behaving similarly as the whales of the cryptospace.

This might be a government or a banker backed hit report to criticize bitcoin as the American stock market was closing. This article has wrong assumptions like proof of work was intentionally designed to be inefficient. It is arguable if intentional from a cost of electricity per transaction basis because it is necessary for security.

However, my favorite assumption is this below hehehehehe.



The world’s second-largest cryptocurrency by market capitalization, Ethererum, has said it is moving toward proof of stake (that switch is likely to take up to another year), and Bitcoin is expected to eventually follow.

Source https://www.nytimes.com/2021/04/14/climate/coinbase-cryptocurrency-energy.html

The first day of Coinbase's COIN has not been easy, in the first hours of the launch it had good receptivity, but many important movements have happened:

Source: https://cointelegraph.com/news/coinbase-s-coin-stock-trading-on-nasdaq-is-off-to-a-rocky-start

There is still a long way to go, it is just the first day and it has not been a bad way, it has already been listed and investors already have an idea of COIN, now, we have to wait this week to see how much it can close, if it is to the downside or upside, everything is to wait, as this panorama can be seen, little by little they will be trading much more.

No need to worry about that. Bitcoin was about to pop up regardless of whether the Coinbase public offering was coming or not. It had been building support in the $50,000s for most of the past two months, it was only a matter of time before it resumed pushing to new ATHs. And $100k is nothing. It'll easily blow past that this year. I mean if by "this rally" you mean in the next few weeks, then yeah of course not, but $100k this summer is likely. Bitcoin over the long term can only go up.

The problem is they just priced it wayyyyy too high. They just wanted the private investors to be able to sell off at a super high price. A $20 billion valuation would have made more sense and given it a chance to do well when it went public.

One minute chart.  It’s the post market rn and I don’t think stock traders are excited about Coinbase or as excited about it being a crypto company...  We could see it bleed for the next few days.

I like the play of words, could you elaborate that is in bold letters . According to you what is the expected valuation the price could rally, since it is a speculations thread you will hear many opinions about their all time high valuation that could be attained in this rally.

The coinbase IPO is the reason for the market to reach new levels but now we are seeing a minor correction and i am not too optimistic about the price reaching hundred thousand during this rally.

Yes I mostly agree. Actually from the initial round of funding of Coinbase in 2012 or 2013 when it got its first valuation at like $12 million or something, those initial investors have made almost exactly the same amount from then until the public open today as if they had just bought Bitcoin then. At actually I think just like in 2019 Coinbase was only valued at like $8 billion, so likely any rich investor who was able to buy Coinbase while it was private likely got about as good an investment up to today as if they had just bought Bitcoin at that time. That's very impressive.

BUT....given Coinbase's revenue/profit numbers a $100 billion valuation is completely absurd. Granted we are in the era now of inflated stock prices that make no sense with the company fundamentals, but still Coinbase's valuation is absurd even given this. So yeah I agree that likely the only way for Coinbase's stock to go in general is down. In fact it has already gone down from a high of $420 a few hours ago to $330 now, but we'll have to see what happens in the next few weeks as obviously right after the initial public offering a stock is in extreme price discovery.

I don't agree that these prices are because Coinbase "makes money on trades of an asset that is in a bubble", because Bitcoin is not in a bubble (though probably plenty of altcoins are). There's a good chance that it won't take too long before we never see Bitcoin as low as $60k again. But Coinbase's stock is highly hyped because we are currently in a major bull market, if they had gone public a year ago their public offering probably would have been priced more appropriately at like $15 billion or something.

And it's not like Coinbase is an empire like Binance. Coinbase is just a very popular exchange, meanwhile Binance is building a crypto empire. I could see a reason for Binance to be valued at $100 billion since they are the largest exchange in the world, the control BNB, and they now have the BSC, but Coinbase at $100 billion is a freakin joke. In a few years when crypto is much larger than it is now, sure a $100 billion valuation makes sense for Coinbase, but today if you're buying Coinbase stock you're buying a much inflated future price rather than paying the current fair price, which as Ognasty says above, makes you the fool. I expect the next few years to see Coinbase try to validate a $100 billion valuation, while Bitcoin climbs into the multiple trillions, meaning if you're trying to choose between Bitcoin and Coinbase stock, Bitcoin is the far better choice.

I dont think Coinbase share price can go down until Bitcoin will grow this cycle. People will simply want to be part of crypto anyway they can be and they will feel like they are by buying Coinbase shares. Once bearmarket start there will be huge correction at Coinbase price.  They planed timing of the IPO well.

now quickly crashing lower.

Coinbase shares opened at $381, giving Coinbase an opening market cap of $99.6 billion. It quickly shot up to $420+ per share, currently right around $400/share.


Based on the actual earnings of the business it should be valued at probably like $20 billion. So basically investors of Coinbase are saying they believe the company will explode as crypto explodes over the long term, and are pricing that in right now.

There is no doubt that owning Coinbase up until now has been a great financial move.  Personally though, I'm worried that their current market position leaves them only one way to go, down...  The question when looking at the financials is if they're going to be able to make back the funds they raise before losing market share.  I personally try to think from the company's side of things when evaluating IPOs and it's clear that the risk being removed here is that of a Bitcoin bubble inflating revenue numbers.

While it's easy to look at Coinbase as a great company and want to own a piece, I remember there's a quote that goes something like this...  There's a fool involved in every trade, if you don't know who the fool is, it is you.  While it's not necessarily a bad thing to be the "fool" in a trade, you should know why you're the fool and accept that.  For those buying COIN, you are the fool.  You are buying a company with a dominant market share that makes money on trades of an asset that is in a bubble.  There are many reasons why one might be ok with this...  Maybe you think the bubble is going to be so big that Coinbase is going to make a fortune the rest of the year and you can escape before the pop.  Maybe you think when the dust clears they will still be an attractive investment.  Maybe you want to diversify your portfolio with crypto assets but only want to purchase companies.  Who knows why...  Just be sure if you're involved in the trade that you know who the fool is, and you have a plan to utilize the trade accordingly. 

Coinbase goes offline at every Bitcoin surge, maybe deliberately. Will it go offline if Bitcoin surges quickly going to $80,000, while their IPO is happening? That would be laughable. Hahaha.

The difference between Coinbase IPO and thousands of ICOs is that Coinbase is actually a legitimate company that has been providing a service that is used by lots of people and has a real revenue and a good future ahead, while ICOs are completely useless tokens created by random people with no future and no plans and no revenue.
Most importantly Coinbase shares are directly linked to Coinbase (the company) and is affected by it while ICO tokens have absolutely no link to the creator. they are subject to market pump and dumps.

Otherwise the concept of ICO and IPO is very similar.

@estenity. Agreed hehe. They might pump this and create the positive news they want before they dump the stock. However, similar to an ICO, who wants to be left holding the stock before it dumps?

Everyone can watch the IPO on tradingview.com.

https://www.tradingview.com/symbols/NASDAQ-COIN/

zerohedge says today that initial investors bought recently pre-IPO at 350 usd per COIN, but will start IPO at only 250, and some are waiting quickly to get 600 usd.

nasdaq games .

It appears that Coinbase IPO news has a good influence on the price of bitcoin and the hype might continue if the stock pumps hehe. However, is COIN a buy on IPO or is this similar to an ICO where certain groups that hold the stock before listing dump on everyone? The groups that hold Coinbase stock are venture capitalists and other investors.

Everyone should read this. An article written by a skeptic before the IPO or just a writer creating a storyline of a skeptic? This makes me also skeptical hehe, however not of the article but of the writer. What is he implying?



The leading U.S. crypto exchange, Coinbase, is on the brink of a direct listing for shares in the company on Nasdaq, opening it up to scrutiny in the public equity market and demonstrating the extraordinary demand for cryptocurrency. Its staggering first-quarter results have all but guaranteed this stock market debut will be one for the history books, with analysts estimating the company’s value in the tens to hundreds of billions of dollars.

But how long can Coinbase thrive as more and more financial activity moves online natively? What happens to the original fiat-to-crypto on-ramp when people stop needing on- and off-ramps because all the money they earn, and all the places they spend it, are on the leaderless record-keeping systems known as blockchains?

Source https://www.coindesk.com/coinbase-ipo-blockbuster-netflix-dex-defi

@Pierre 2. I reckon the next storyline for the continuation of the pump on bitcoin is the approval of an ETF by the SEC in America. This is where the biggest institutional investors and international funds can put trust and invest billions. Canada and Brazil have approved their own ETF for bitcoin, however, America, some countries in Europe and Asia are the homes of the biggest investors.

I would have to say this is a great news for coinbase shareholders or partners or whoever will be profiting from this but I do not see how this would help people in crypto. What are you expecting, coinbase to get all that money and buy bitcoin with it? I do not think that it would be possible for them to do something like that, I believe they will probably just keep that cash, either grow the business bigger or they would simply just take that money to home.

You think every single company that sells its shares uses that to grow bigger? Some of them are just shareholders who are selling right after it is listed on nasdaq because they would prefer the cash. I have to say since bitcoin is growing bigger and bigger and coinbase is the most known crypto exchange in all of USA, I think that would mean coinbase shares will be overpriced at first, get to a good price, then it will definitely go up a lot in the future, could be a good investment.

PSA, this is what the billionaires are doing,



Don’t give the billionaires, the trolls, the scammers, the shitcoiners, the bankers what they most want from you. Your Bitcoin. HODL all the coins you can. Make lifestyle changes to reduce costs.

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.

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?

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.

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?

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.

Yes.





Just kidding.

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.

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.

If that can make the price more volatile, we need to hold on tight the bitcoin because we might see the price will go down and up many times, making us get a heart attack if we are not ready.
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.

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.

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!

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.

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.

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.

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

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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

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.

I believe that is positive news and it could again help the market to pump, currently the market is not that bullish anymore particularly on bitcoin, it seeemed like we already stopped at $60k as bitcoin is now below $60k and might go below in the coming days.

$100k is easy if there's a big news that would have a bullish effect, I think that one is big but let's just see how the market will react on that.

after the paypal announcement, the price increased a lot, it seems to me that this paypal announcement was a salvation, because the price could have dropped below $50,000.


I agree, if some very big and famous company said it is accepting bitcoin then the price would increase a lot, paypal and elon musk were able to create big price increases for bitcoin


I've heard some analyst saying that this can make the price drop a little, others argue that the price will increase, I prefer to wait and see what will happen

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?

Bitcoin stopped having pumps back in 2013 when MtGox that controlled 85% of the market volume went down.
If you mean "rises" then slowing down has never meant "becoming weaker". In 90% of the cases when the rise slows down in bitcoin and price stays stable in a fixed range with less than 10% fluctuation it means there is a massive rise coming and the stability is due to the large scale accumulation by market makers.
Seeing the high volume also suggests accumulation for the next big rise.

Bitcoin had a 13000% rise in previous cycle and it didn't have "institutional billions" to get there. So far we only had 3000% rise and in comparison that is tiny. Reaching $100k won't need any of that. Reaching $1 million in 2021 does.

That seems to be only for Coinbase as a company and in stock market. It doesn't even have anything to do with the cryptocurrency world. It is just a company that is involved in cryptocurrency trading by offering a platform!
That won't affect bitcoin price.

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.

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/