Coinbase (NASDAQ: COIN) & The Banking Crisis However, the price is tumbling once again as Bitcoin price failed to break above $25,000. Since the start of 2023, Coinbase stock has shown a massive rebound due to a corresponding recovery in BTC price. As of March 20, the stock of the top US Exchange is trading 86% below its 2021 all-time high.Īs Bitcoin peaked at $69,000 in November 2022, Coinbase shares (NASDAQ: COIN) also tumbled. Nonetheless, the following sell-off proved that the company’s stock was overvalued. The fear of missing out (FOMO) caused many new investors to jump to those insanely high levels. Just within a few days after the launch, Coinbase stock price went from its listing price of $250 to $429. Coinbase IPO was one of the most hyped IPOs of 2021 as it occurred at a time when both traditional and crypto markets were in a bull market. Coinbase Stock History Was Coinbase IPO Price Overvalued?Īfter establishing itself as one of the major crypto hubs in the world, Coinbase finally listed itself publicly in 2021. After attempting to recover, the stock crashed again and retested the lowest point as the crypto sell-off intensified. The stock plunged to an all-time low of $40 in May. ![]() The subsequent breakout had Coinbase stock price rally to a seven-month high in November 2021 before recording a trend reversal that has continued this year. ![]() Granted, it momentarily rose above the range’s upper border to a three-month high in mid-August. At that point, its share price was at a record high of $429.12 as demand for cryptocurrencies was soaring.īetween mid-May and mid-October 2021, it was range-bound between $260.93 and $208.62. Coinbase Global, Inc became a publicly-traded company in mid-April 2021.
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