New York Investment Bank hävdar att kryptovintern är över

• A New York-based investment bank, H.C. Wainwright, claims that the “crypto winter is over, and spring has sprung.” 
• The firm’s analyst, Mike Colonnese, believes that the crypto market is now entering the next bullish cycle for Bitcoin due to the upcoming halving.
• He said that “growth in total crypto market cap, incremental retail and institutional adoption, and higher crypto trading volumes” will be seen.
• The analyst believes that crypto exchange Coinbase is “uniquely positioned to benefit from the large and rapidly growing global crypto economy.”
• Analytikern har satt en prislapp på $75 per aktie på Coinbase-aktien (COIN), vilket markerar en ökning med nästan 40% från dess nuvarande handelspris.

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Kryptovinter är en populär fras som representerar en betydande nedgång i priserna på kryptovalutor och en period då blockchain- och kryptovalutarelaterade företag bevittnar sina användare och intäkterna minskar i mångfald. Intressant nog hävdar en populär investeringsbank baserad i New York, HC Wainwright, att denna baisseartade fas på kryptomarknaden som har hemsökt investerare sedan 2022 är över och bra dagar kan vara runt hörnet.

Enligt en 26 april notera sent out to investors and customers of the investment bank, H.C. Wainwright analyst Mike Colonnese claims that the “crypto winter is over” while adding that the markets “have likely now entered BTC’s next bull price cycle, which has historically resulted in significant growth in total crypto market cap, incremental retail and institutional adoption, and higher crypto trading volumes.”

Taking into account the year-to-date (YTD) metrics, the price of the world’s largest digital asset, Bitcoin (BTC), has rallied 67% in 2023 while the collective worth of the crypto market is up close to 47%, which indicates that the gradual sentiment regarding digital assets is now changing and investors can expect a shift in market movement as the crypto winter nears its end. 

“Crypto winter is over, and spring has sprung.”

Coinbase a Good Buy Post Crypto Winter

The investment bank claims that the leading crypto exchange in the United States, Coinbase (COIN), is a very good purchase with huge upside potential. The bank believes that the company is “uniquely positioned to benefit from the large and rapidly growing global crypto economy,” as it is the only digital asset broker that is publicly listed in the US. 

Colonnese tror att företaget kommer att fortsätta att utöka sin marknadsnärvaro under det återstående året och framstå som ett av de ledande företagen inom det digitala tillgångsområdet efter kryptovintern. Analytikern har satt en prislapp på $75 per aktie för Coinbase-aktien (COIN), vilket markerar en ökning med nästan 40% från dess nuvarande handelspris på cirka $54.

This bullish prediction for the Coinbase stock was provided by the analyst while taking into account the fact that the crypto exchange will continue to benefit from the “continuation of crypto’s bullish price action in 2023.” It is also important to mention here that the halving of Bitcoin (BTC) will be witnessed in 2024, which is also another bullish indication for the crypto industry. 

According to the data from Alternative.me, the Bitcoin Fear and Greed Index has turned to ‘greed’ after ranging from ‘fear’ to ‘extreme fear’ last year. This indicates that the buying pressure for the cryptocurrency is higher than the selling pressure, a situation contrary to the 2022 crypto winter. 

Som tidigare rapporterats av Bitnation förvärvade kryptobörsen One River Digital Asset Management (ORDAM), som har varit bytt namn till Coinbase Digital Asset Management (CDAM), tidigare i år som en del av sina expansionsplaner. Det finns också planer på att flytta ut från USA på grund av det dåliga regelverket under närvaro av Securities and Exchange Commission (SEC).

The New York-based investment bank isn’t the only firm that is bullish on the crypto exchange. Recently, it was revealed that Cathie Wood’s American investment management firm, Ark Invest, köpte $9,2 miljoner aktier i Coinbase (COIN). den 10 februari. COIN-aktier köptes också av Ark den 5 januari och 11 januari.

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