Neil's avatar
$36.5m follower assets
Crypto Fatigue
Mizuho analyst Dan Dolev wonders if recent trading patterns point to "potential crypto fatigue." $COIN volumes appear to surge during sell-offs, but "fail to impress during the brief rallies," Dolev tells investors in a research note.

The analyst says that analyzing Coinbase volume trends in May and June highlights a potential decline in appetite for crypto trading versus the last two years, as volumes on days when bitcoin declined "dramatically exceeded" volumes on days when bitcoin increased.

He keeps a Neutral rating on Coinbase shares with a $45 price target.
Irish Born Investor's avatar
Trading is much more fun on the way up than the way down. $COIN in same boat as $HOOD really. A sinking one...
Neil's avatar
@irish Yup although one might say the use of volatility on the way down is better
Young Money Capital's avatar
@irish Great way to sum it up. Also $COIN and $HOOD real competition is coming back. That is $DKNG.
Golden Lake Partners's avatar
First of, $COIN defeats the purpose of crypto as a whole which is to have no third party between you and your holdings and buy/sell crypto is an anonymous fashion.

Second, if you look at the brief history of crypto the bust cycle comes every 4 years for the coins and that will have a direct impact on the share price of $COIN and the other exchanges.
Neil's avatar
@goldenlacllc You can always store your coin on a cold wallet. But trading will have to happen on a platform like Coinbase. + it offers many other services and functionalities.

Coin unlike others has a lot of cash and has been around for a couple of bear markets. Of course it is taking a big hit right now and they've screwed up with hiring but I strongly believe the company comes out of this stronger (and I don't particularly like crypto)
Golden Lake Partners's avatar
@couch_investor I don't know about trading but there's a platform called Bisq where you can buy crypto anonymously
Golden Lake Partners's avatar
@goldenlacllc Having a centralized platform beats the purpose of crypto and these companies are not what the advent of crypto is about nor do they adhere to the Web 3.0 paradigm
Neil's avatar
@goldenlacllc Interesting, I wonder how that works. I highly doubt regulators and the IRS will let people do whatever they want.

The idea of decentralized is a dream. Everything is and will always be centralized in a way. Yes maybe you might help a person that lives under a dictatorship but eventually it all leads to a centralized entity.

Cash is as good a decentralized gets imo
Golden Lake Partners's avatar
@couch_investor both you and the seller put a certain percentage of the total transaction in escrow (in bitcoin, not fiat I think) if, let's say the seller, doesn't wire you the bitcoin, he loses what he put in the escrow and the transaction doesn't happen