Bitcoin and Gold Amid Trust Crisis
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 8h ago
0mins
Source: Benzinga
- Gold Price Surge: Gold has doubled in value over 20 months, reaching $5,000 per ounce, reflecting a trust crisis among central banks that are doubling their gold purchases to safeguard assets amid currency devaluation.
- Trust Crisis Intensifies: Following the U.S. seizure of Russian treasury assets in 2022, central banks are losing trust in external assets, as evidenced by German economists urging the repatriation of gold from the New York Federal Reserve, indicating declining confidence in the U.S. as a custodian.
- Clarity Act Uncertainty: The odds of the Clarity Act passing have dropped from 80% to 50%, and if it fails, the crypto market may enter a “show me” period where future growth relies on real-world adoption rather than legislative support.
- Market Reaction Expectations: If the Clarity Act passes, the market is expected to rally sharply as investors will view stablecoin and tokenization growth as guaranteed, whereas failure would necessitate actual adoption of crypto technologies to drive legislative changes.
Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COIN is 361.63 USD with a low forecast of 230.00 USD and a high forecast of 440.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 213.480
Low
230.00
Averages
361.63
High
440.00
Current: 213.480
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
