Bitcoin Craters Nearly 40% in June, Time to Dump Coinbase Stock?
— 99x forward price, Bitcoin witnessing, Investing, Calculated, Spandan khandelwalspandan, Indicating, Quarter, Pressure, Decline 50, Eps — 1 min read
Bitcoin lost 37.3% in June, the biggest monthly price drop since 2011. Bitcoin was the largest cryptocurrency by market capitalization, Bitcoin. Bitcoin is expected to remain under pressure on recession fears. Company's revenues decreased 35.2% year-over-year to $1.17 million during first quarter of 2022. COIN has an overall POWR Rating of D, equating to Sell in our proprietary POWR Ratings system. The stock is currently trading below its 50-day and 200-day moving averages of $75.38 and $195.37. Year-to-date, COIN is declined -78.65%, versus a -18.88% rise in the benchmark S&P 500 index during the same period. Source