Coinbase shares fare worse than Bitcoin

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The share price hit 368.90 on 9 Nov 2021. It's now 63.03, having hit a low of 40.83 on 12 May in the middle of the TerraLuna mayhem. That's a drop from the high of over 80%.

Exchanges always struggle in crypto winters as trading volumes and hence trading fees dwindle.

In the 2017 - 2020 bear market, we saw a number of exchanges go kaput: MtGox, BTC-e, Cryptsy, Mintpal, Vircurex amongst others.

This new bear market won't be over till at least one or two exchanges collapse and go bankrupt.

Coinbase is likely to survive, but in my opinion the share price hasn't yet bottomed out. That will take a few more months. Only when some of their competition has gone bankrupt, will Coinbase start growing market share again, at which point it will be worth buying their shares in preparation for the next bull run.

Coinbase shares fare worse than Bitcoin | Ecency