Shares of cryptocurrency exchange Coinbase Global Inc. ended Thursday's trading session at an all-time closing high. However, analysts have differing opinions on whether this rally will continue.
Coinbase Sets New Closing Record
Coinbase stocks closed trading at $369.21, an increase of 3.89% on the day and nearly 40% for the month. This price is 3.3% higher than its previous closing high of $357.39 reached in November 2021.
Analysts Divided on Future Rally
Some analysts believe that current successes may continue, while others anticipate a correction. Investment adviser Andy Heilman noted that the current trend on charts remains bullish, although a pullback may occur. Meanwhile, crypto analyst Chad expressed that the price may be overextended and due for a cooldown.
Positions of Early Investors and Coinbase's History
Some early investors in Coinbase stock have finally reached breakeven after purchasing shares on the IPO day in April 2021. At that time, the stock opened at $381 but dropped to $328.28 by the end of the first session.
While Coinbase's stock reached a new record and has generated optimism among investors, expert opinions remain divided, and further price movements may depend on various factors, including market conditions and legislative changes.
