I’ve just gone against my own trading rules. I’ve bought an IPO, I hate it, I hate it because there is no trend, nothing, there’s nothing here to tell me where to go. But I noticed today a drop in crypto prices – that’s in my view because traders are pulling crypto profits and buying Coinbase shares. Coinbase’s business is the exploding world of Crypto. I’m excited.
At the moment it’s one big bar. But here’s my thinking:-
- Coinbase relist Ripple shares rise
- Coinbase has its first earnings on the 2nd of June – I’m seeing that as a time target
- As crypto rises so does Coinbase’s value
- These shares give people who are “scared” or don’t understand crypto to get involved in the market
$100 Billion valuation topped. Here we go.
I do expect a small drop as it gets settled then see where we are.
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