If you've been reading this blog for some time, you know that I've been watching Bitcoin quite closely over the past few years. As I continue to be bullish on crypto, one stock that has been on my radar is Coinbase. The reasoning for this is extremely simple. As Bitcoin, Ether, Solana, and other cryptocurrencies start to rally, more and more investors are likely to log onto Coinbase in order to make trades. This will lead to strong increases in revenue and earnings as Coinbase continues to be the easiest way to buy crypto.
From a fundamental perspective, COIN has many of the traits a growth-oriented investor would like to see. First, it has six quarters of accelerating earnings and sales. In addition, it is estimated to have a monster 2024. Coinbase's chart is equally impressive. I took a position on Friday as it retook its' 50-day moving average. COIN looks really good on multiple timeframes with the daily chart showing strong action and the weekly and monthly charts showing a large cup and handle pattern brewing. I will look to add to my position should COIN set up again.
Risk right. Sit tight.
Full Disclosure: I currently own Bitcoin, Solana, and Ethereum.
Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.
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