Coinbase To Shake Up The World Today

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It's been a long time coming. Coinbase is going public today. I wrote about this yesterday a bit on predictions of what I believe will happen in this post.

https://leofinance.io/@bitcoinflood/two-days-till-coin-a-nasdaq-listing

So far it seems to be coming true. In just the last 24 hours leading up to the epic launch of Coinbase COIN on the stock market we have seen increases in the primary coins listed on coinbase.

Bitcoin is up 3%
Ethereum is up 7.5%

One of the biggest speculations is that Coinbase soon after going public is that it will finally after all of these years list DogeCoin. This speculation seems to be triggering a rather large rally in dogecoin now at $0.14 are you kidding me! lol

In just a little over a hour from this article post Coinbase will go live with it's initial reference price of $250 a share!

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Will this launch trigger a rally in crypto?

My thoughts are it will at least at the inital phase of things. If Coinbase also keeps on their toes and launches new cryptos shortly after I see massive rallies happening across the board. However Coinbase has recently in the past always announces ahead of time when they would be brining a new cryptocurrency on board and I have yet to hear of one.

This initial spark I feel will wear off and end up crashing both the stock price and the crypto hype within 72 hours of going public. Perhaps a sell off come Friday going into the weekend.

Many times when we see a new stock go public we get all the hype from it for the first 24-72 hours which quickly wears off and sparks a sell as that stocks price is purely on hype and nothing else at that point.

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Within crypto though I don't feel like this launch is going to get more people buying crypto that haven't already been. Nearly everyone here in the states knows what coinbase. The only possible upward trend that could happen is that some bigger investors see confidence in the platform by going public which causes them to invest large stakes of money into crypto but that seems like a small chance in my own opinion.

Most of the time within crypto since it's traded 24/7 these price changes are already in effect before it happens in the stock market. This also applies to things such hard forks and halvings that happen and are planned changes. We see prices skyrocket ahead and shortly after they happen the price dips.

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Ethereum Hard Fork

One of the things we will see happen before Friday which could hold the price of Ethereum is the upcoming hard fork which always has the potential of splitting off a new coin. This is how we got Ethereum Classic and it's one of the reason people buy into a planned hard fork.

While the chance of this happen on Ethereum are rather low it is possible as miners have been fighting back a bit. This Hard fork is called the Berlin Fork in which I go over in this article.

https://leofinance.io/@bitcoinflood/ethereum-is-looking-good-to-skyrocket-here-s-why

In short it's not the big change that reduces and burns gas fees for miners. But it's still a change to help the platform move in that direction by expected August.

This hard fork means all trading on exchanges including coinbase will come to a halt till after the hard fork is completed and all systems are looking good.

This is expected to take place tomorrow April 15th which is kind of a bad time up with the launch of Coinbase today. It will be interesting to see what happens with this unique combination of major exchange going public on NASDAQ and a hard fork 24 hours after.

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Posted Using LeoFinance Beta



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6 comments
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Interesting times with Coinbase today, possibly a watershed moment in future technology with crypto.

Planning ahead with halving should have been taken into account, possibly has been considered before move was made.

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Going to be an interesting day I'm curious what's going to happen but I feel pretty confident in what will Transend over the course of the next 72 hours. I'm super curious of the Ethereum front.

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Wait and see, this may explode into a bull run then pull back once again, on the ETH side I would not like to guess, most unusual!

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I agree with your opinion on it just being hype. There may be a few more people but I think it works better to legitimize crypto to the ordinary investor. However most of them will probably still not buy crypto.

As for ETH, I haven't really been keeping up with the news and the new hard fork means at least some progress is being made.

Posted Using LeoFinance Beta

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