Is Coinbase undervalue? Coinbase 被低估了?

KRAKEN is a crypto exchanged founded in 2013. Recently, it launched its mobile app in US market to allow US clients to trade crypto directly with their US bank accounts.

 Video source: https://youtu.be/K4BQTbGycCU

KRAKEN

Its CEO and co-founder, Jesse Powell reaffirmed to Bloomberg host that Bitcoin would likely reach $200k by end of this year.

When asked about KRAKEN's plan to list in US stock exchange, Powell shared the company is considering Direct Listing perhaps in later part of the year. He thinks by listing KRAKEN, will unleash the valuation of the company. Coinbase which was listed recently is greatly undervalued, even though it is its rival. Financial analysts have not started to cover crypto industry and giving fair evaluation. He also feels that crypto is at its infancy, similar to early phases of Internet then.

On the volatility of Bitcoin prices, he thinks it is not unusual, and its price has seen previous wild swings, but the eventual uptrend is still intact.

 Coinbase $Coinbase Global, Inc.(COIN)$

For coinbase as a company, we should take a different perspective when evaluating its fair value. I don't think we can use Bitcoin price as a benchmark or surrogate marker of its value. Given the interests in crypto trading, the potential of Coinbase and similar exchanges is huge. ARKK@$ARK Innovation ETF(ARKK)$  seems to agree. It will definitely be interesting to see KRAKEN listed and trade as rival to Coinbase. But the crypto market is certainly big enough to accommodate more exchanges.

Looking back at almost 2 months' price movement of Coinbase, it seems to be trying to find the floor to pivot and rebound. Volume wise has fizzled, may indicate less volatility.

If it can break above 230, there's a chance for it to reach next resistance around 245-250 range. If price breaks below last Friday's low 228, immediate support at 224 (in hourly chart) or even challenge previous low at 208.

Coinbase waiting to rebound

KRAKEN 是一家成立于 2013 年的加密货币交易所。最近，它在美国市场推出了其移动应用程序，允许美国客户直接使用其美国银行账户进行加密货币交易。 其首席执行官兼联合创始人杰西鲍威尔向彭博主持人重申，比特币可能会在今年年底达到 20 万美元。

当被问及 KRAKEN 在美国证券交易所上市的计划时，鲍威尔表示，该公司正考虑在今年晚些时候直接上市。他认为通过上市 KRAKEN，将释放公司的估值。最近上市的 Coinbase 被大大低估了，虽然它是KRAKEN的竞争对手。金融分析师还没有开始涵盖加密行业并给出公正的评价。他还认为加密还处于起步阶段，类似于当时互联网的早期阶段。关于比特币价格的波动，他认为这并不少见，其价格经历了之前的剧烈波动，但最终的上升趋势仍然完好无损。

对于 Coinbase 作为一家公司，我们在评估其价值时应该采取不同的视角。我认为我们不能使用比特币价格作为其价值的基准或替代标志。鉴于对加密交易的兴趣，Coinbase 和类似交易所的潜力是巨大的。 木头姐的ARKK 似乎同意。看到 KRAKEN 上市并作为 Coinbase 的竞争对手肯定会很有趣。但是加密市场肯定足够大，可以容纳更多类似的交易所。 回顾 Coinbase 近 2 个月的价格走势，它似乎正试图找到支撑和反弹的底线。近日成交量已经逐渐减低，可能表明波动性较小。 如果它能够突破 230，就有可能达到 下个阻力点245-250 范围内。若价格跌破上周五低点228，最近的支撑224，或甚至挑战前期低点208。

@爱发红包的虎妞