The crypto world was on fire last week as Bitcoin continued chalking up more gains mooning to $24,000 on Saturday then retreating to $23,973 (at press time).
This upward trend suggests that investors are increasingly feeling positive and bullish going into 2021 doubling down their crypto investments. Analysts say that the price shall continue climbing to $25,000 then to $30,000 on New Year's Eve.
Similarly, most altcoins are in green.
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As the top cryptocurrency rallied towards $25,000, more people are using Google's Search Engine to ask questions like "Should I buy Bitcoin?" rather than "Should I sell Bitcoin", which strongly suggests that people are more bullish and interested in purchasing than selling.
The Famous US-based crypto exchange, Coinbase, announced submitting IPO (Initial Public Offering) to the US Securities and Exchange Commission (SEC).
We have confidentially submitted our draft registration (Form S1) with the Securities and Exchange Commission. https://t.co/U6d0sVz0aX— Coinbase (@coinbase) December 17, 2020
Business Insider reported that Goldman Sachs bank is leading this upcoming IPO. A traditional IPO refers to the process of offering shares of a private corporation to the public in a new stock issuance. Public share issuance allows a company to raise capital from public investors.
In a recent interview with Fortune, Coinbase co-founder Fred Ehrsam said that "the company is “spiritually” built to go public via an offering involving digital tokens on a blockchain—the ledger technology that underpins Bitcoin, and which crypto enthusiasts view as the future of financial infrastructure."
However, in the announcement, Coinbase didn't share further details on how it will structure the IPO.
Events to Keep An Eye On:
Jan 25, 2021 - Jan 26, 2021 (Catalonia, Spain)
Bitcoin Hits New All-Time High Above $23,000
Markets Flashing Green, UN Venture Further into Blockchain
Market is Back in Green As Dorsey Invests $50 Million in Bitcoin
Disclaimer: The Cryptocurrency market is considered highly speculative, risky, and largely unregulated. Anyone mulling investing in it, should be aware there's a risk of losing their entire investment.
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