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The Trump tariff has brought major turbulence in the financial market, aiding the Coinbase stock price crash. Coinbase, being a crypto exchange, is heavily influenced by the crypto market’s performance, which is quite poor in the current scenario. Bitcoin’s price has declined to $83k, and the rest of the altcoins are under immense bearish pressure, pressuring the COIN stock price as well. Experts believe it could crash to $100 or even lower if the condition persists.
Coinbase Stock Price Crashed 50% With Trump Tariff
Donald Trump’s announcement of a 10% baseline tariff on all imports has affected the stock market and the rest of the financial market significantly. The $S&P 500 has experienced the worst drop since June 2020, the pandemic crash. The major stock price crashed, and the Coinbase (COIN) stock is no exception.
In the last week alone, the COIN stock price has declined 25% and 50% from its ATH of $343.62 set in December 2024. Meanwhile, the price of gold surged, bringing more uncertainty to the stock industry.
Although analysts believed the Fed may introduce rate cuts, the economic uncertainty may remain steady for some time, affecting COIN further.
Coinbase Stock Price Risks Fall to $100, What’s Next?
Coinbase stock had a steadily upward trend throughout 2024 before hitting its peak in December and following a massive downtrend. At present, it trades at $170.76, bearing a 6.6% loss today, but experts anticipate a further downtrend.
Experts like Ali Martinez recently posted that the popular crypto exchange’s stock has broken out of its ascending channel, which could result in a massive correction to $130 or even $100. This is because the Trump tariff has triggered a trend shift, affecting the COIN stock price.
An ascending channel tends to rebound from the lower boundary to the upper boundary and faces rejection and drops back before finding support and repeating the cycle. Recently, COIN broke out of this ascending channel, indicating a trend shift that could lead to a correction to $130 or even $100.
Other Coinbase stock price predictions anticipate an $80 target in a bearish case or $400 in a crypto boom amid its revenue growth. Notably, the uncertainty is likely to stay unless investors’ sentiments get over the trade war.
Frequently Asked Questions (FAQs)
The Coinbase stock price plunged with the crypto and stock market crashing amid Trump’s tariff news, influencing investors’ bearish sentiments.
Experts forecasted a potential COIN stock price crash to $100 or lower amid its move down the ascending channel.
While uncertainty remains, COIN stock could rebound amid the crypto market boom and its revenue growth.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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