US Bank Evaluated Bitcoin! Is Real Bull Getting Started?

Investors surviving a tough bear market bitcoinHe is looking forward to the start of the bull market in .

BTC’While the tremendous performance of the market since the beginning of 2023 is called a bull start by some analysts, some analysts think that this rise is a bear trap.

Double the $16,000 level seen with the collapse of FTX BTC Currently, it continues to consolidate at $27,000-28,000 levels, while the New York-based investment bank HC Wainwright He said that the crypto winter in Bitcoin is finally over.

“Probably now BTC has entered the next bull price cycle.

This has historically resulted in significant growth in overall crypto market value, increased retail and institutional adoption, and higher crypto trading volumes.

And as a result, crypto winter is over and spring is here.”

Giving the good news to investors that the crypto winter is over, the bank also stated that Coinbase will be the platform that will benefit the most in the bull market.

bank analyst Mike Colonnese Noting that the worst is over in yesterday’s report, Coinbase is uniquely positioned as a high-value, publicly traded crypto company to profit from the future bull run.

“As a result, we see COIN as a scarce asset. Because Coinbase is the only publicly traded domestic crypto company in the US with a market cap of over $10 billion, which means competition for investor capital is extremely limited.

We expect Coinbase to expand its market share in the cryptocurrency industry for the remainder of 2023.”

Mike Colonnese, who has set a target of $75 per share for COIN, stated that this price target is due to the expectation and expectation of Coinbase, and Coinbase has a solid user base.

Finally, the analyst pointed out that the SEC does not pose a threat to Coinbase. “The SEC has generally taken action against staking services. Fortunately, Coinbase’s revenue from staking services was only 3%.” said.

*Not investment advice.

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