Interesting, despite Coinbase has had horrible results since the IPO last year, seems Jim still believes there is plenty more downside left in it. https://www.coindesk.com/business/2...eferral&utm_source=rss&utm_campaign=headlines
If your reason to short Coinbase is purely technical - maybe. Otherwise, Coinbase as a company is basically a machine for printing money.
Just a few days ago I shorted puts around the 150 strike when I saw it tumble so low. I was ok with getting that kind of assignment, if it were to happen. Unlike the suckers who aped in all the way up to $430 a share. Are you kidding me or what? 52 Week Range 150.12 - 429.54
The future, is DEXes, which means old-school exchanges are basically a dead-end tech. Their fees are just too high and can't compete.
What??? I think right now its the DEXes that have fees too high and the centralized exchanges that are competitive. (not coinbase of course... I mean something like FTX)
He is prolly manipulating a short squeeze. No reputable fund manager could possibly be this dumb to go against such a strong trend in the market rn.
Seems to be the common theme lately... dumb-money keeps pouring more fuel on the fire, while smart-money prepares more shorts. https://cointelegraph.com/news/bitcoin-beats-owning-coin-stock-by-20-since-coinbase-ipo If bitcoin crashes hard again this year, I may just do some temp-trades on it.