Summary
- Research firm Needham has reported raising Coinbase's target price to $420.
- Needham maintains a buy investment rating and expects cryptocurrency trading volume to hit an all-time high in December.
- It stated that recent Bitcoin (BTC) volatility is impacting market conditions.
According to The Block, a cryptocurrency-focused media outlet, research firm Needham has raised its target price for Coinbase from $375 to $420.
The investment rating remains 'buy'. Needham analysts explained, "Due to the entry of new cryptocurrency investors, December's cryptocurrency trading volume is expected to reach an all-time high," adding, "Recently, as Bitcoin (BTC) reached $100,000, volatility has also significantly increased."
Meanwhile, BTC is trading at $97,357.67, down 2.19% from the previous day, as of 04:15 on the 10th in the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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