Read on Twitter
Thought about the Coinbase listing.
#Coinbase #Directlisting #BTC
A lot of the people are looking forward to the Coinbase listing and expecting a mega pump but to be honest I'm quite skeptical about the idea
reasons explained in the thread
#Coinbase #Directlisting #BTC
A lot of the people are looking forward to the Coinbase listing and expecting a mega pump but to be honest I'm quite skeptical about the idea
reasons explained in the thread
Before starting I do believe Coinbase listing to be a very positive event for the crypto space. However, I view it to have positive effects in long run. For short run, well, I believe it to have kinda zero effect on BTC or arguably some negative effects.
2. First of all, Coinbase listing has been official weeks ago. People interested in its listing knew about it even like a month before. This means that most of the "Coinbase listing" effect has already been reflected in the market.
3. People/institutions who want to buy BTC for the Coinbase listing reason don't start acting when Coinbase appears on the stock market! They act as soon as they hear the official news, or even before when rumors or statements from Coinbase aiming the listing are published.
4. However, seeing the expectation of the people waiting till the last minute for the listing to be done, this might even lead to some dips due to their "disappointment sell offs". People who just bought BTC for the "Coinbase pump" would start consider selling off their spots.
5. This often happens before/after the hard fork/air drop events. Similar psychology.
6. People who want to get exposure to BTC might consider buying Coinbase stocks rather than buying BTC itself. Of course I wouldn't even try to do this because BTC is BTC. But if you were a newbie trying to get exposure, one might consider Coinbase stocks rather than BTC
7. Potential buying pressure in short term might decrease. So for me the best scenario would be kinda of "no effect" of the listing. In long run, yes it's definitely great news that's gonna be positive to the whole crypto space. But in short run? I'll try to abstain from FOMO.
I really do hope I'm wrong and some kind of pump comes in place
