You Can Afford to Be Extremely Patient With Coinbase Stock

InvestorPlace2021-05-26

With Bitcoin crumbling, COIN will be deflated for a while. Cathie Wood is thematriarch of Wall Street. She delivers results for her clients while doing so in an ethical manner. Even if you’re not a ...

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精彩评论

funky0612
2021-05-26
funky0612
Cool
moneyfreedom
2021-05-26
moneyfreedom
Please respond to this comment thanks
stinger77
2021-05-26
stinger77
I've coinbase-ed. What about you?
- Stingers:
  so do i
Stingers
2021-05-26
Stingers
It's now or never
- stinger77:
  Absolutely
- Stingers:
  go go go
Bloom88
2021-05-26
Bloom88
[捂脸]
Jon000
2021-05-26
Jon000
Comments n likes plsssss
- Bloom88:
  okay!
- Jon000:
  Ty
- hwhw123:
  good day to you

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She delivers results for her clients while doing so in an ethical manner. Even if you’re not a ...</p>\n\n<a href=\"https://investorplace.com/2021/05/you-can-afford-patience-with-coinbase/\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"COIN","symbol_name":"Coinbase Global, Inc.","start_time":0,"source_url":"https://investorplace.com/2021/05/you-can-afford-patience-with-coinbase/","article_id":"1130362459","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1130362459","pubTimestamp":1622000928,"sourceInfo":{"source_id":"lsy1606302653667","name":"InvestorPlace"},"weMediaInfo":null,"summary":"With Bitcoin crumbling, COIN will be deflated for a while.\n\nCathie Wood is thematriarch of Wall Stre","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"COIN":"Coinbase Global, Inc."},"translate_title":"您可以对Coinbase股票保持极大的耐心","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"COIN":0.9},"content_text":"With Bitcoin crumbling, COIN will be deflated for a while.\n\nCathie Wood is thematriarch of Wall Street. She delivers results for her clients while doing so in an ethical manner. Even if you’re not a money person, you got to respect Wood. Despite my reverence, though, I’ve got to question her decision to buyCoinbase(NASDAQ:COIN).\nSource: Primakov / Shutterstock.com\nYes, COIN stock is on discount but not all markdowns are worth considering.\nLet’s back up a step. Technically, I’m referring to Barron’s post on May 21, which revealed that Wood’s ARK Invest fund “snapped up more than 1.2 million additional shares, lifting its total holdings by more than 40% to 4.2 million shares.”\nMost of the shares went to the fund’s flagshipARK Innovation ETF(NYSEARCA:ARKK).\nOn the surface, I can understand why Wood jumped on the Coinbase dip. After all, the Oracle of Omaha Warren Buffett once stated in part, “be fearful when others are greedy andgreedy only when others are fearful.”\nWell, I think we can safely say that there’s a lot of fear going on in the crypto space. Therefore, if we apply Buffett’s words literally, now is the perfect time to invest in Coinbase stock, but is it really?\nTake it from a cryptocurrency advocate and investor. I’ve gone through multiple boom-bust cycles with this temptress known asBitcoin(CCC:BTC-USD).\nAs I shared with theInvestorPlaceaudience,I’m mortgage-free because of cryptocurrencies, and now I’m on the cusp of being able to buy back the cryptocurrencies I used to pay off my house.\nSeriously, I should have had my own crypto research project. I could have told you when to get in and, more importantly, when to get out. Because that’s where the problem with cryptos and by logical deduction, Coinbase stock lies.\nToo many people gambled on fantasies rather than realities.\nCoinbase Is a Long-Term Investment That You Can Wait on\nFrankly, the online publishing industry is ill-suited for cryptocurrency coverage. Editorial staffs must schedule story assignments, submitted works must undergo an editing process and once everything looks kosher, the piece goes live.\nBut the challenge here is by the time crypto-related content goes through this normal procedure, everything could have changed. Indeed, the narrative for Bitcoin took only an hour or so to spark the negativity that it did.\nThat segues into another point about virtual currencies — you’ve got to stay agile. This is a sector that will humble as quickly as it crowns you a genius. Something like Coinbase stock is especially at risk because it’s an equity unit that follows traditional market rules, yet is inextricably tied to an unprecedented, decentralized platform.\nThis leads me to one hard conclusion: Coinbase stock is a long-term investment. That doesn’t mean you should buy shares today.\nGiven the extreme velocity of Bitcoin’s correction, we can reasonably surmise that it’s going through thetypical process of a bear market bust cycle. You can read about the various emotional ranges on the link provided but I don’t think that we’ve yet to reach capitulation. If we haven’t reached capitulation, the market has yet to find a bottom, not even close.\nWhile I don’t have proof, some compelling evidence suggests that market cycles work through natural sequences. One of the most powerful is the Fibonacci sequence. From Bitcoin’s peak price of approximately $64,529, here are the numbers to watch.\n\n8% retracement: $39,879\n50% retracement (an “unofficial” Fib level): $32,264\n2% retracement: $24,650\n6% retracement: $15,229\n\nInterestingly, when theNasdaq Compositeindex hit a weekly average high of nearly 4,915 points during the euphoria of the 2000 tech bubble, it eventually found a bottom at just under 1,140 points, a 23.2% decline.\nTherefore, I see the bottom of Bitcoin at around $15,000, which means theoretically, Coinbase stock has much more to fall.\nYou Got to Know the Game\nOne of the unsavory elements of the crypto game is the proliferation of narrative frontrunners. When you hear talk about Bitcoin killing the central banks, the only thing you should do is run. Nothing is more dangerous than believing an idea that has no fundamental merit.\nEssentially, people got gamed. Personally, I thought that Bitcoin was going to $100,000 earlier this year, but when BTC struggled, that was when I had doubts. So I made sure to cash out a good chunk of my portfolio because I knew that no market is immune from the treachery of human emotions.\nAs harsh as this correction is, it’s a lesson. Never believe that any asset is different, whether you’re talking Bitcoin, real estate or used car prices. Nothing can run up forever.\nBut if you’re going to ignore this teaching moment, for goodness’ sake, don’t rush into Coinbase stock before performing due diligence. With the equity unit so tied to Bitcoin’s fortunes, this is not the time to bet the house on it.\nOn the date of publication, Josh Enomoto held a LONG position in BTC. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":136607068,"gmtCreate":1622011223854,"gmtModify":1634184678760,"author":{"id":"3570505106221155","authorId":"3570505106221155","authorIdStr":"3570505106221155","name":"funky0612","avatar":"https://static.tigerbbs.com/aa318a8ab3268800c1d8a78026359b1c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3570505106221155"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/136607068","repostId":1130362459,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":136602082,"gmtCreate":1622011057046,"gmtModify":1634184680849,"author":{"id":"3585016169113806","authorId":"3585016169113806","authorIdStr":"3585016169113806","name":"moneyfreedom","avatar":"https://static.tigerbbs.com/0d3d86db039526e68f0ef11b938e4ed9","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3585016169113806"},"htmlText":"Please respond to this comment thanks","listText":"Please respond to this comment thanks","text":"Please respond to this comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/136602082","repostId":1130362459,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":136871195,"gmtCreate":1622010151917,"gmtModify":1634184688823,"author":{"id":"3581827070600518","authorId":"3581827070600518","authorIdStr":"3581827070600518","name":"stinger77","avatar":"https://static.tigerbbs.com/33e3edb314faaaee38948d48aeb4e3d3","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3581827070600518"},"htmlText":"I've coinbase-ed. What about you?&nbsp;","listText":"I've coinbase-ed. What about you?&nbsp;","text":"I've coinbase-ed. What about you?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/136871195","repostId":1130362459,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4454265,"gmtCreate":1622010288931,"gmtModify":1635398809021,"authorId":3562475148249558,"author":{"id":3562475148249558,"authorId":3562475148249558,"name":"Stingers","avatar":"https://static.tigerbbs.com/c99c07f753850d085aa23040bff2acf8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":136871195,"type":1,"supId":0,"prevId":0,"content":"so do <u>i</u>","text":"so do <u>i</u>","html":"so do <u>i</u>"}],"langContent":"EN"},{"id":136844810,"gmtCreate":1622009705430,"gmtModify":1634184691374,"author":{"id":"3562475148249558","authorId":"3562475148249558","authorIdStr":"3562475148249558","name":"Stingers","avatar":"https://static.tigerbbs.com/c99c07f753850d085aa23040bff2acf8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3562475148249558"},"htmlText":"It's now or never","listText":"It's now or never","text":"It's now or never","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/136844810","repostId":1130362459,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4454218,"gmtCreate":1622009916899,"gmtModify":1635398812819,"authorId":3581827070600518,"author":{"id":3581827070600518,"authorId":3581827070600518,"name":"stinger77","avatar":"https://static.tigerbbs.com/33e3edb314faaaee38948d48aeb4e3d3","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":136844810,"type":1,"supId":0,"prevId":0,"content":"Absolutely","text":"Absolutely","html":"Absolutely"},{"id":4454262,"gmtCreate":1622010272401,"gmtModify":1635398809346,"authorId":3562475148249558,"author":{"id":3562475148249558,"authorId":3562475148249558,"name":"Stingers","avatar":"https://static.tigerbbs.com/c99c07f753850d085aa23040bff2acf8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":136844810,"type":1,"supId":4454218,"prevId":0,"content":"go go <u>go</u>","text":"go go <u>go</u>","html":"go go <u>go</u>"}],"langContent":"EN"},{"id":136859700,"gmtCreate":1622008192600,"gmtModify":1634184701906,"author":{"id":"3579815534956625","authorId":"3579815534956625","authorIdStr":"3579815534956625","name":"Bloom88","avatar":"https://static.tigerbbs.com/033cde0577d9fb0c09cb6a7956e22236","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579815534956625"},"htmlText":"[捂脸]&nbsp;","listText":"[捂脸]&nbsp;","text":"[捂脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/136859700","repostId":1130362459,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":136863024,"gmtCreate":1622006275068,"gmtModify":1634184716676,"author":{"id":"3574488501440064","authorId":"3574488501440064","authorIdStr":"3574488501440064","name":"Jon000","avatar":"https://static.tigerbbs.com/31d8b0b435484918436ab24cf32410e7","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574488501440064"},"htmlText":"Comments n likes plsssss","listText":"Comments n likes plsssss","text":"Comments n likes plsssss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/136863024","repostId":1130362459,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4453982,"gmtCreate":1622008020603,"gmtModify":1635398831521,"authorId":3579815534956625,"author":{"id":3579815534956625,"authorId":3579815534956625,"name":"Bloom88","avatar":"https://static.tigerbbs.com/033cde0577d9fb0c09cb6a7956e22236","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":136863024,"type":1,"supId":0,"prevId":0,"content":"okay!","text":"okay!","html":"okay!"},{"id":4454360,"gmtCreate":1622011013231,"gmtModify":1635398800941,"authorId":3574488501440064,"author":{"id":3574488501440064,"authorId":3574488501440064,"name":"Jon000","avatar":"https://static.tigerbbs.com/31d8b0b435484918436ab24cf32410e7","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":136863024,"type":1,"supId":4453982,"prevId":0,"content":"Ty","text":"Ty","html":"Ty"},{"id":4468661,"gmtCreate":1622101368589,"gmtModify":1635397684781,"authorId":3578710390898389,"author":{"id":3578710390898389,"authorId":3578710390898389,"name":"hwhw123","avatar":"https://static.tigerbbs.com/d8403e7374bdcb179a82aff3b6d9338e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":136863024,"type":1,"supId":0,"prevId":0,"content":"good 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