Coinbase stock flourished on its IPO, but now, the bitcoin trade is not booming as it was and prices are dropping to US$ 55, 000. It is only logical for crypto investors to consider taking their profits and wait for the next positive momentum if there will be another chance.
The recent weakness of Bitcoin and other cryptocurrencies is worrying and it is still difficult to tell whether Coinbase IPO has arrived at the right time for the Bitcoin bust. A piece of better advice for those unwilling to hold or buy more after the steeper plunge is to cut losses or take the gains before they get in the hands of the market.
In the day to come, bitcoin could be in turbulence as the technical weakens. JP Morgan, one of the bitcoin big holders has also sounded alarmed on the cryptocurrency’s recent weakness. The strategist warned that if bitcoin can’t break the US $60, 000 levels again, its growth could be off the table.
“Over the past few days, Bitcoin futures markets experienced a steep liquidation similarly to the middle of last February, middle of last January, or the end of last November.”
For investors, it is better to take their profits off the table even if Bitcoin isn’t in trouble. Technical may be on the verge of breaking down and it is better to take the chances by playing with the house money. There are opportunities on the TSX index that don’t need you to risk their investment in white-hot IPOs like Coinbase or volatile cryptocurrencies like Bitcoin.
Docebo (TSX: DCBO) (NASDAQ: DCBO), is a Canadian Software-as-a-Service (SaaS). It is a high-growth stock that won’t be shaken even if Bitcoin were to crash. Docebo was unknown in 2020, but during the pandemic, the company has walked on made major client wins.
Given that most works will remain remote even after the pandemic, Docebo’w win streak isn’t ending any sooner. Last year, the Learning Management System (LMS0 won the business of Amazon Web Services (AWS).
Many firms are finding it difficult to spend time in office space, and remote work becoming more popular. Given that Docebo’s AI-leveraging platform products are recognized by Amazon, many more firms out there may consider them: especially this time remote work is becoming popular.