BTC skyrocketed as first crypto exchange goes public


Supported by FBS

What happened?

Bitcoin has approached the all-time high of $61,745 today, driven by encouraging news: Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!

It’s one of the most significant events for crypto fans in 2021. Why?

  1. It will be the first listing of this kind for a cryptocurrency company. It’s so intriguing as if this listing goes well, it will open the doors for other start-ups in the sector.
  2. Most of the time, companies that make their debut on the market aren’t profitable at the beginning. Here’s another story. The company has already revealed astonishing earnings that might push the stock price up on April 14th. Coinbase ended 2020 with a revenue of $1.1 billion. What is more impressive is that the company’s revenue for the first quarter of 2021 has already surpassed the revenue for the entire 2020 year: $1.8 billion. Wow!
  3. Coinbase is one of the most fascinating companies to go public in recent history! Some analysts believe such a huge hype over this event may lead to an extremely high valuation. By some estimates, the company may reach $80 billion or even $100 billion.

According to crypto lender Nexo: “Coinbase listing on the Nasdaq is as bullish a signal as possible at this current stage”. Some investors have doubts over the company’s stability as cryptocurrencies are volatile, but anyway it will be interesting to follow and should improve the market sentiment. BTC/USD, other cryptocurrencies, Nasdaq, and other stocks will be mostly impacted! Follow the event on April 14 and keep an eye on the charts!

What’s happening with Bitcoin?

BTC/USD is trading inside the ascending channel. If it manages to break the all-time high of $61,745, the way up to the next round number of $65,000 will be clear. Such a great event may even drive Bitcoin to $70,000 – everything is possible!

After the hype dies down, BCT/USD may drop. If it drops below the recent lows of $58,000, it may drop to the 50-period moving average of $54,800.

 

This post is written and submitted by FBS Markets for informational purposes only. In no way shall it be interpreted or construed to create any warranties of any kind, including an offer to buy or sell any currencies or other instruments. The views and ideas shared in this post are deemed reliable and based on the most up-to-date and trustworthy sources. However, the company does not take any responsibility for accuracy and completeness of the information, and the views expressed in the post may be subject to change without prior notice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: XRP in a league of its own as BTC and ETH  pull back

Bitcoin price is currently showing signs of retracement after a second attempt to rally higher. Ethereum price tried following in BTC’s footsteps but lacked momentum. On the other hand, Ripple price is paving its way, but it might fall in line soon.

More Cryptocurrencies News

Shiba Inu exposes risk of 20% collapse

Shiba Inu price action has been uneventful despite the recent crypto market rally led by Bitcoin. SHIB continues to consolidate as it moves sideways, and an indecisive technical pattern has emerged.

More Shiba Inu News

Polygon looks to double in market value

MATIC price is hovering above a crucial support level at $0.996, expecting a break above. A 13% retracement to $0.855 seems likely if the selling pressure increases. A 100% upswing to $1.727 is on the cards for Polygon.

More Polygon News

Flippening becomes more likely as ETH trade volume growth exceeds BTC in first half of 2021

The growth in the trade volume of Ethereum exceeded that of Bitcoin so far in 2021, according to a report from Coinbase Global Inc. Increasing popularity of decentralized finance and the rise of scaling solutions are among key factors contributing to Ethereum's performance.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES



Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP