Bitcoin continues to set new records, and it shows no signs of slowing, according to analysts Decrypt previously spoke to.
While the world’s largest crypto broke above $89,500 on Monday, crypto-related stocks are also in for the ride—namely America’s largest crypto exchange, Coinbase.
The San Francisco-based company’s shares (COIN: NASDAQ) closed Monday’s trading session at $334.24, Google Finance data shows.
That’s a nearly 20% rise in the past 24 hours and close to an 84% jump over the past month. After-hours trading shows the stock is up a further 1% to $327.40.
The digital asset giant isn’t far off touching its debut price of $381 when the company went public during the prior bull run, set roughly three years ago.
Analysts are now forecasting a high price target for the stock of around $380 over a 12-month horizon—with nine experts recommending to buy and eight advising to hold, according to TipRanks
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Author: Mathew Di Salvo
