Generally, Coinbase and other crypto currencies exchanges perform well whencryptos are in a bull market. In 2023 Bitcoin alone contributed one thirdof Coinbase’s trading volume and transaction revenue. Given Bitcoin’smarket cap of $1.2 trillion is half of the total cryptocurrency market cap,its performance can heavily influence the rest of the digital tokens andrelated stocks.
Bitcoin enjoyed a stellar run last year and Coinbase has been a keybeneficiary. Crypto currency prices surged in anticipation and after thelaunch of the spot Bitcoin exchange traded funds (ETFs) in mid-January.That triggered a renewed interest in digital currencies pushing Bitcoinprice to a new all-time high in mid-March.
Bitcoin has rallied strongly since November 2022 advancing more than 370%from its low of $15,500 to its fresh record high of $73,666. SimultaneouslyCoinbase has bottomed at $31.55 in January 2023 and has surged to $283.48 inMarch –…
