I said right from the off, that this was a long term hold for me. And I see nothing to change my mind. Coinbase will get bigger and bigger as the demographics of people holding on to cryptos increases year on year.
There are too many people looking at stocks and trying to make a quick profit.
It’s time in the market not timing the market that leads to riches.
Why did you buy it then and what changed in your analysis during that time period?
It was an emotional buy mainly fuelled by hype and FOMO, fortunately it was only a small amount compared to my portfolio. Maybe if I had waited a day or two I would not have sold but I wanted to cut my losses (average price $386). Again generally I am not loss averse and I have been dollar cost averaging the all 2020 on stocks in which I really believe from major ETFs to more speculative individual stock (ITM, Ceres, GGP).
I just think that money will do better if allocated somewhere else. I do not need exposure to crypto through the stock market and I prefer holding crypto directly (approximately 20-25% of my portfolio).
Fundamentally nothing changed. Coinbase is not the only exchange out there, barrier to entry are low-medium, other exchanges are also planning to go public soon (e.g. kraken) and many crypto holders prefer to store in hard wallets.
I sincerely wish good luck to everyone who has invested in Coinbase and hope the stock will do well.
$386 was not a bad price to get in on IPO day. I know its tanked but everything has.
What is going on…these losses are insane.
Sell off of stocks with high growth built into them because of the jitters around inflation. Its across the board - my ETSY is down 26%.
If you believe in the company and the price you bought at (which you should) then don’t worry in a few months years it’ll be up and this will look like a minor blip.
That is a big loss sorry to hear that. It’s a really volatile stock not a stock to hold long term. It’s a hit and run stock
How can you argue its not a longterm stock to hold, what makes you say that?
Competition is growing all the time and even the most zealot of crypto fan says its when rather than if some form of government legislation comes in, two things really going against the price getting to where it started .I wish i had listened to people who said it was overvalued and $250 was a more realistic price but fomo kicked in, lesson learned.
People who are unhappy with the share price within in a month of the public offering were not really investing, as far as I know nothing has really changed within the company fundamentals during that time.
Re regulations, I listened to an interview with the founder and he said half of the company’s innovations were technological and the other half were actually regulatory innovations. As they were operating in a new space, they actively worked with the regulators to create frameworks and that actually worked out better for them. So, in terms of effects of regulations, Coinbase may be one of the best positioned exchanges to deal with this.
They also are pretty much the only exchange that institutions buy through, or the main one, as far as I’ve read.
If you invested with the hope that you would see a return within the first few months, then you’re most likely trading on price.
Don’t they also make money on both buying and selling so they kinda win if crypto goes either way?
I suppose so in terms of revenue but not momentum. The price needs to always go up to keep momento going in order to encourage new investors. If everyone sold out, yes they may make money short-term but not long term.
They do need to keep adding new crypto to their exchange for example they don’t support Doge at the moment so missing out on those juicy fees as investors go elsewhere but recently they’ve added Cartesi, Ampleforth and several other alt coins
Any word on DOGE listing for Coinbase? I’d buy some just for the hell of it
Some great figures in there!
that means the price should plummet then
Yep, the roller coaster that is Coinbase
A roller coaster that only goes down by the looks of it.
This is poor logic. If you invest expecting to not see any profit in the first few months then you may as well not invest at all within the first few months because you are essentially risking a downward move with no hope of upwards movement. I wouldn’t invest in anything I didn’t feel would have a higher price after three months, because I could just buy it then.