Jump to content



Photo

Coinbase


  • Please log in to reply
1 reply to this topic

#1 CLK

CLK

    Member

  • Traders-Talk User
  • 10,737 posts

Posted 14 June 2022 - 07:52 AM

COIN is down over 85% from it's $360 high, I never understood the concept of taking the company public to start with, what were they going to do with the proceeds? Well they said they were going to invest in new products and services, are you sure they didn't buy a bunch of Bitcoin also?
Now they just announced they are laying off 20% of the workforce,
at what point do they become a shell of a company and because of the 4 year cyclical nature of crypto, go bankrupt? I moved most of my money to another exchange, Coinbase should never have went public.
I still expect Bitcoin to hit 7500, and if this is a retest of SPX 2250,
then could hit 3k or less.

Edited by CLK, 14 June 2022 - 07:55 AM.


#2 pdx5

pdx5

    I want return OF my money more than return ON my money

  • Traders-Talk User
  • 8,551 posts

Posted 14 June 2022 - 09:19 AM

Coinbase wallet...a Ponzi scheme if I ever seen one. You give them cash $$, and they will give you "passive" interest in your account. Which simply means it is only on paper, not cash sent to your checking account.
The passive interest is higher than CD's to entice new sucker money coming in.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule