Just a few days ago, we highlighted an opportunity in Coinbase (COIN).

We noted, “With Bitcoin expected to rally even more, Coinbase stands to do well. We also have to consider that President Trump wants to make the U.S. the ‘crypto capital of the planet.’ Plus, once new regulation is in place and executive orders are executed, we could easily see crypto transactions multiply quickly.  Not only would that be beneficial to cryptocurrencies, but also to companies like Coinbase Global.”

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At the time, COIN traded at about $280.  Today, it’s up slightly at $291.  It’s set to push even higher as Bitcoin pushes even higher. Plus, according to analysts at Mizuho, “Growing global enthusiasm surrounding the finite number of bitcoins and a more favorable political environment under Trump are likely sufficient catalysts for price appreciation.”

Technically, it’s been consolidating around $291. From here, we’d like to see COIN initially retest its December high of $349.75 again shortly.

Sincerely,

Ian Cooper