Coinbase: Will it go bankrupt? Prepare now! Predictions...
There are rumors that Coinbase is going bankrupt. While Brian Armstrong, the company's CEO is claiming that bankruptcy is not on the table, many are worried that their investment could take a dive, and people are already fleeing the exchange (and its stable coin, USDC) Here's what I think...
Please note that the following is not intended to be financial advice! It is merely my own 'prediction' or opinion of the potential price movements in the crypto market, and should be taken as entertainment purposes only. Be sure that you never invest any money that you can't afford to lose, and apply sensible, dollar cost averaging techniques to minimize losses.
Yes, of course Coinbase (COIN) has discussed bankruptcy, despite its CEO claiming otherwise. This kind of talk within the company's leadership will intensify over the next 3 weeks, culimating in what could be the announce of bankruptcy four weeks out. Get your assets off of that exchange now!
Look for an all time low for COIN around mid-June...I would say around the $15 mark (down, from the current price of $67.87). Ouch. However, unlinke LUNA, I can see a modest rebound this year, and then another big dip in early 2023. From there, it should increase steadily, at least through the March timeframe.
The big winners in all of this will be decentralized exchanges like UNI (Uniswap), which is currently trading around $5.29 as of the date and time of me writing this post. Of course, the best time to start dollar cost averaging into UNI would be during the time of the COIN drop. The biggest gains for UNI (in my opinion) will be near the end of this year 2022. (BNB could be another good alternative, but it is currently unavailable to US users).
Be aware that stable coins like USDT and USDC (owned by Coinbase) could be in danger over the next 2-4 weeks as well, so be sure to convert any short-term gains into fiat as we wait for the next big early June dip.