Coinbase Hits Record Low as Crypto Contagion Anxiety Intensifies

https://uk.finance.yahoo.com/news/coinbase-hits-record-low-crypto-205040115.html

by CrankyBear • 4 years ago

39 19 4 years ago

uk.finance.yahoo.com

Apocryphon• 4 years ago

‘$COIN went from "no risk of bankruptcy" to a "small risk of bankruptcy" to its bonds yielding ~15%’

https://twitter.com/stockjabber/status/1594821293186195459

dragontamer2• 4 years ago

I believe Coinbase's 2028 bonds are identified by "USU19328AA89". They're down to 53-cents per dollar today.

Note: the bond market is very thinly traded and you may have to wait days before a new trade can establish a new price for a particular bond. I wouldn't recommend reading into any particular price too much, you really gotta "squint" and average things out in your brain.

fbrncci2• 4 years ago

Generally, this would be the point in the market where you would want to start buying assets. But this being crypto, you may be better of heading to a casino.

dragontamer2• 4 years ago

I think its safe to say that cryptocoin volume for the near future is dead.

Coinbase makes its profits / revenue off of trades, akin to how ETrade used to offer $7 per trade, Coinbase skims a touch of money per trade to enable BTC and USD exchanges.

The fewer people exchanging BTC / ETH / USD / (etc. etc.), the less money Coinbase makes. And vice versa, the more people doing this activity, the more money Coinbase makes.

AustinDev• 4 years ago

'Bitcoin is dead' I've heard it said during ~6 different epochs since I first mined a block in 2009. We'll see how it goes.

ramphastidae• 4 years ago

You have been fooled by 0% interest rates.

fbrncci2• 4 years ago

There have been countless of technological achievements since 2008/2009, which have seen mass user adoption, to the point where we have apps and devices which we can't think without. Yet, Bitcoin with so much promises, in the same time (~6 epochs), has yet to achieve any sort of consumer adoption (in 14 years!). I'm hardly willing to call Bitcoin alive.

rchaud• 4 years ago

At this point it's similar to that wall mural that reads

"God is dead - Nietsczhe"

"Nietschze is dead - God"

The first line would be written by those that entered crypto having believed its promises of financial salvation, but ended up losing a lot of money. As far as they're personally concerned, crypto is dead.

The second would be written by those who have already bestowed supernatural qualities upon Bitcoin, and thus no longer concern themselves about its relationship to earthly reality, i.e. its price in dollars. The focus is now about more abstract concepts that don't easily translate to hard cash.

lrvick3• 4 years ago

Been buying the whole way down. Cryptoassets are all on sale.

blitzar2• 4 years ago

Nice bag you are holding there. Where did you get it?

chaosbutters314• 4 years ago

I've been. opening and closing short positions. I can totally see them going to low 30s

Kukumber2• 4 years ago

Coinbase is not even top5 exchange [1], how come the press only talk about this exchange? specially considering the recent insider trading story[2,3]

[1] https://coinmarketcap.com/rankings/exchanges/

[2] https://news.ycombinator.com/item?id=31012462

[3] https://www.justice.gov/usao-sdny/pr/three-charged-first-eve...

zippyking• 4 years ago

Isn’t it no.2 there on cmc?

Kukumber2• 4 years ago

check volume, score isn't relevant

nking• 4 years ago

“If the $15,500 level breaks for Bitcoin, there is not much support until the $13,500 level, followed by the psychological $10,000 level,” wrote Ed Moya, senior market analyst at Oanda.

What complete bullshit. Who listens to these “analysts”? All he’s stating is that the price can fall, and then later when it does he’ll pretend that he knew something secret that we simpletons all can’t see on the chart. If the price is falling as the bubble bursts it will likely fall more. Thank you genius.

Coinbase Hits Record Low as Crypto Contagion Anxiety Intensifies

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