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Coinbase stock might face near-term volatility due to the case with the SEC and declining Bitcoin price- Oppenheimer analyst.
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When writing, COIN stock was trading at $125.20. In the past 30 days, the trading price of the stock declined over 28%.
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On December 29, 2023, COIN stock traded highest at $187.24 and since then it declined over 37.32%.
Owen Lau, an analyst at Oppenheimer, predicts that the stock of a leading company in the cryptocurrency industry Coinbase might battle near-term volatility in terms of price.
Owen added, “There is still a regulatory overhang, we still don’t have clear regulations in the United States right now.”
The statements of analysts are coming following the lawsuit of Coinbase with the Securities and Exchange Commission of the United States, and the declining price of Bitcoin, the crypto market pioneer.
As per data from TradingView, when writing, the COIN stock was trading at $125.20. The
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