Coinbase's stock rose 6% pre-market on Bitcoin's all-time high of $72,000, following Goldman Sachs' upgrade and price target increase.
Bitcoin's all-time high of $72,000 has driven up Coinbase Global's (COIN) stock, with shares rising 6% pre-market on Monday. This comes after Goldman Sachs upgraded Coinbase from Sell to Neutral and raised the price target from $170 to $282, citing the Bitcoin halving event, launch of BTC ETFs, and increased political and geopolitical uncertainty as drivers of the recent crypto rally. Coinbase's daily volumes have reached levels not seen since 2021, but the large surge in traffic on the platform has led to crashes.
March 11, 2024
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