CandleFocus Analyst Issues Warning for the Cryptocurrency Market: “Due to Coinbase Data…”
2024-10-31
Author: Content Editor
The article highlights that while Bitcoin is nearing a new all-time high of $73,000, the retail trading participation has decreased, leading to weaker-than-expected earnings for Coinbase. The decline in retail trading is attributed to negative sentiment discouraging traders and reduced volatility in the market. Coinbase predicts challenges ahead due to volatile crypto prices in October and a decline in revenue from its subscriptions and services division. The cautious forecast caused a 9% decrease in Coinbase's shares. However, there are positive signs of a resurgence in retail interest as Bitcoin volumes on Coinbase have been growing faster than on Binance.
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