Bold comments by crypto investor Will Clemente might upend the financial industry: With a seven-fold rise from its present price, Coinbase (COIN) stock might soar to an amazing $1,700. COIN is attracting interest from people as it is so important in the digital asset sector. One of the largest centralized cryptocurrency Exchanges, along with Binance and Kraken, is
COIN shares have been steadily increasing since January 2023, but they are now only worth about $222, a big difference from how much they were worth when they first went public. Clemente is only positive if the U.S. government changes its policies in a big way. He thinks the price could go through the roof if this change happens on Capitol Hill. To be safe, Clemente also predicted a range of only $700 to $1,000 if the rules stay the same.
Clemente’s major argument is that COIN might become the top cryptocurrency exchange in the US. The site is liked by the government, which uses it as its main source for buying and selling digital assets. Because the rules are changing, this strategic edge could strengthen the market for Coinbase.
Coinbase’s Technological Innovations And Market Influence
Coinbase is also well-known in blockchain technology for making Base, a layer-2 scaling tool built on Ethereum. It’s the first company with a blockchain network traded on the stock market. Dollar Coins can now be used in COIN Wallet and Circle. It won’t be long before stablecoins have rules. This is good for Coinbase because it will help many people start using cryptocurrency.
The outcome of the 2024 U.S. presidential contest could significantly influence Coinbase’s stock price in the future. Under a Democratic government like President Joe Biden or a more crypto-friendly posture may be adopted by prominent Republicans, a cautious attitude to crypto might have a major impact on Coinbase’s earnings.
Clemente’s positive forecast reveals the changes in the cryptocurrency market and COIN relevance. In a fast-evolving digital economy, all eyes are on Coinbase’s audacious ideas as investors and other interested parties wait for clear guidelines and political reforms.
