Together with actions in general and in cryptographic markets in particular, it has been difficult weeks for Coinbase (COIN), their actions have a decrease of approximately 30% since mid -February and a 40% drop since it reached a maximum of 52 weeks in early December.
The Rosenblatt Spies Opportunity investment firm, saying that investors will benefit from buying the fall, since the exchange remains benefited by the pro-critistpto position of the Trump administration.
“Coin is the light blue chip in the sector and should be a beneficiary of multiple winds of positive tail,” wrote Rosenblatt Chris Brendler analyst, starting the coverage of cryptography exchange with a purchase rating and an objective price of $ 305. “Coin has also demonstrated its ability to navigate both in the bull markets and with the growth of non -commercial income They will be more resistant in the next cryptographic winter. “
“Fortunately, we believe it is more a ‘cryptographic spring’ at this time and how the stock here after the setback,” he added.
Brendler attributes the recent Coin decreases as a result of the rates again imposed by President Donald Trump, in addition to a broader political uncertainty, which have sent to the lowest risk markets throughout the Board.
However, Coin remembers Brendler, is still a dominant player in the industry thanks to his strong brand, deep liquidity and superior user experience.
“Regulatory clarity will attract more tradfi players to cryptography, but the head of decade of Coin and the comprehensive product suite position it to maintain market leadership,” he added.
Together with another difficult day in the markets, the currency is lower by 1% to $ 211 on Friday. The Nasdaq has dropped 1.4%, the S&P 500 smaller in 1.1% and Bitcoin is out of 3.5% to $ 87,000.
