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Seeking Alpha 2022-10-06 16:43:50

Coinbase's Worrisome Short-Term Share Price Performance But Strong Crypto Outlook Over The Long Run

SummaryThis year has not been a kind year to crypto nor Coinbase with intense volatile negative pressures.2024 could show the potential year of small profit while future years could show explosive growth as an industry.If large institutional investors jump into Coinbase, the stock might improve immensely, but historically, this has not been seen over the long run.Fundamentally Coinbase (COIN) does look weak for the remainder of this year. There is a glaring highlight on the overall performance of the cryptocurrency market come 2024 and 2025. Do note the forecasted EBITDA, which showcases this.Negative Outlook for 2023As the cryptocurrency markets have been very negative and volatile this year, Coinbase has many challenges to worry about for the remaining year. This depends on the performance of significant cryptocurrency coins like Bitcoin (BTC-USD) and Ethereum (ETH-USD). These coins' value is so tightly correlated to the price of COIN.We could look forward to a potentially good year in 2024 with explosive growth.Fundamental Short-Term Data is Weak as Coinbase Relies on Cryptocurrency Market PerformanceThis EBITDA shows a strong outlook for 2024 and 2025, but this might be the time to dip in the Coinbase and the overall cryptocurrency market. 2022 2023 2024 2025 2026 EBITDA -48 169 1206 4637 233 Source: Financial Modelling PrepIf this EBITDA guidance holds, one can see that 2022 is not the year to have inv...

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