In conjunction with stocks in general and crypto markets in particular, it has become a rough few weeks for Coinbase (coin), its shares have been walking a fall of nearly 30% since mid-February and a 40% fall from hitting a 52-week high in early December.
Investment company Rosenblatt Spies Opportunities, who claims that investors will benefit from the purchase of the DIP because the exchange remains set to earn from the Trump administration’s pro-crypto stance.
“The coin is the clear blue chip in the sector and should be a beneficiary of many positive tailwinds,” Rosenblatt’s analyst Chris Brendler wrote, which began the crypto exchange scope with a purchase rating and target price of $ 305. ” We that the stock will prove to be more resilient next winter of crypto. ”
“Fortunately, we think it’s more than a ‘crypto spring’ now and like stock here after the pullback,” he added.
Brendler’s recent rejection results in tariffs, again tariffs imposed by President Donald Trump in addition to greater political uncertainty, which has sent risk markets less than the Board of Late.
However, reminds Brendler, remains a dominant player in the industry thanks to strong brand, deep liquidity, and greater user experience.
“The clarity of regulation will attract more tradfi players to crypto, but the decade-plus of the coin head and comprehensive position of the product suite to maintain market leadership,” he added.
Next to another difficult day in the markets, the coin is less than 1% to $ 211 on Friday. NASDAQ dropped 1.4%, the S&P 500 less than 1.1% and Bitcoin was at 3.5% to $ 87,000.
