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10x Research: Coinbase Stock Price Approaching Overvaluation Threshold, Suggests Shorting

Summary: According to 10x Research, the stock price of Coinbase (COIN), a cryptocurrency exchange listed on NASDAQ, is rapidly approaching an overvaluation threshold. Analyst Markus Thielen stated that Coinbase's fundamentals, mainly trading volume, have not kept pace with the rise in stock price. This is a typical characteristic of a 'tactical reversal.' He added that traders ...

According to 10x Research, the stock price of Coinbase (COIN), a cryptocurrency exchange listed on NASDAQ, is rapidly approaching an overvaluation threshold. Analyst Markus Thielen stated that Coinbase's fundamentals, mainly trading volume, have not kept pace with the rise in stock price. This is a typical characteristic of a 'tactical reversal.' He added that traders looking to profit from this discrepancy could consider going long on Bitcoin while shorting Coinbase, or using options by selling COIN call options and buying BTC call options to express the same view, but with certain risks involved. (CoinDesk)

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