Hello Hodlers, Hiveans and Lions,
Well well well... Two days ago I shared Price Target for #bitcoin from Bernstein Investment Bank. Link here.
And what do I see today as one of the Top News?
JPM Securities writes that Bitcoin ETFs could see $220bn of inflows over the next 3 years!
As a rule of thumb this compares to $1.4tn Market Cap for Bitcoin. So this is quite sizeable but not crasy if you ask me. On the other hand, JP Morgan estimated only $62bn of bitcoin ETF inflows (BOOOOOOOO!)
They also think that Coinbase is very well-ppositioned to benefit from the bitcoin and crypto boom and have now a target of $300!
Coinbase Stock Price
$COIN has room to run if you want my opinion. If we are indeed at the beginning of a new Crypto Bull Run, they have invested everywhere in Web3 and should reap tremdenfous profits once they can dump tokens or sell some shares in projects they own.
Time will tell but I am almost ready to take a big bet on Coinbase... Looking for a small pullback maybe.
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Posted Using InLeo Alpha
Posted Using InLeo Alpha
Only 220 bn? I would expect 10x of that🤫
Tbh I was also disappointed. Still a big number though!
Very few see this for what it is. ETFs are buying up whatever miners, GBTC and plebs are selling.
Indeed! Nevertheless they will relentlessly try to shake out weak holders.
Forecasts for Bitcoin ETFs are encouraging and show significant growth potential in the coming years. Furthermore, the positive outlook for Coinbase suggests that the company is well positioned to benefit from this boom. I agree that there could be exciting opportunities on the horizon, especially if we are at the beginning of a new bull cycle. Thanks for sharing
The reaction of Coinbase shares is also interesting, thanks for sharing info
You are welcomed I have sold a few $COIN PUTs lately (Buying Calls is too expensive at the moment).
Thanks for the reply, COIN shares are actually worth a lot today compared to a few months ago and would almost be worth selling for those who own them, Today, Saturday March 16th, COIN shares are worth $242
The approval of the Bitcoin ETF has given a strong boost to the crypto market