Coinbase Stock: A Generational Buying Opportunity at Current Levels?
Michele Schneider | Mar 04, 2024 02:16AM ET
On Valentine’s Day, I talked with Jon Erlichman of Bloomberg about what tradeable instrument I would date and which one I would marry.
For the record, I said I would marry silver.
Lo and behold, silver perked up on Friday and closed with gains close to 3% and very near a potential major breakout.
For those who read the Daily, you know we have been expecting a pop in inflation between March and June.
If this rally in gold, silver, oil (longer term charts work well), and metal miners continue, this could be the start of a parabolic move.
Also on Friday, Holden Milstein, our crypto expert, Samuel Burke of Real Vision, and I sat down together to talk about all things including Coinbase (NASDAQ:COIN), the stock.
Holden knocked it out of the park with his analysis on Bitcoin and Ethereum.
Here is a quote from Holden’s research:
“SOL is the largest altcoin in the market and it still is only about 1/8 Ethereum’s market cap. I’m not the first person to tout that SOL is faster, cheaper, and far more user-friendly than ETH, and I personally believe that SOL will turn out to be the Apple (NASDAQ:AAPL) of the crypto world thanks to how much the chain has catered to retail activities.”
On Coinbase COIN, I cover why it is a generational buy opportunity as the largest on-ramp platform for money to enter the crypto space.
As you can see in the chart, the price of COIN is consolidating as is the momentum.
Have a look see and listen at our hour on Real Vision and walk away with a plethora of knowledge and trading ideas!
h2 ETF Summary/h2- S&P 500 (SPY) Another new all-time high! 510 now pivotal
- Russell 2000 (IWM) 205 cleared-and Gramps did his job-212 next major resistance and 205 support
- Dow (DIA) Not quite to the highs so 400 in view
- Nasdaq (QQQ) Pow-new highs-things in motion tend to stay in motion
- Regional banks (KRE) 45-50 range
- Semiconductors (SMH) 211 now support and another big winner
- Transportation (IYT) See Daily on TSI and this sector
- Biotechnology (IBB) Looking at 140-142 next levels to clear
- Retail (XRT) Not as impressive as the others, but hanging in there with 75.50 pivotal
- iShares iBoxx Hi Yd Cor Bond ETF (HYG) 77 big number to hold (still)
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