$GraniteShares 2x Long COIN Daily ETF (CONL.US)$ when you lo...
$GraniteShares 2x Long COIN Daily ETF (CONL.US)$ when you look at coinbase financials last quarter they missed on the earning side by a pretty good margin and I think that's the primary reason why it gapped down. one has to look beyond that quarter and understand coinbase is just like a brokerage firm that's what it is it's a platform to trade crypto. when crypto trades higher transactions increase their revenue increases their profit increases. it's a 100% correlation it is no different than when people are saying you have to buy the regional Bank stocks when interest rates are falling because their business at the local level is going to skyrocket from refinancing the amount of money that's made by refinancing loans exceeds what they make on the deposit interest it exceeds what they make on any underwritings of securities. and coinbase will become a Wall Street favorite again and bust new highs when Bitcoin approaches it's all time high again. which will probably be sometime next year after Trump is elected any fires Gary gensler and establishes a reserve of Bitcoin like you said he's going to do. in the meantime we have the opportunity to accumulate positions in coinbase and or this leverage ETF if you can stomach the volatility.. and while this morning it's up $2 there will be at some point in time in the future we're profit taking ensues and you'll be able to buy it on a down day again.
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itsgoodinmysoul : Hinges on the assumption Btc will make ath, what gives you confidence that this is the likely outcome?
10baggerbamm OP itsgoodinmysoul : it doesn't need to bust an all-time high it just needs to be a buzzword again that people are talking about where people are buying the dips and the number one seller is the Biden Harris administration of Bitcoin. why should I vote for I talked about this for the past several months that they have been net sellers of the seized 13 and 1/2 billion dollars of Bitcoin. you do I guess the mindset and then finally an article came out and validated what I was saying is true. so now it comes down to what do they have left well I can guarantee you this if it's 2 billion or 3 billion that's about it and they will have zero the day of the election. I had never seen and I expect this weekend that you're going to see another 1100 share Bitcoin sale or a thousand not share but token cell to try to break the momentum. once they are done selling there's no big sellers left there's none. and that and of itself even if God forbid The laughing Hyena wins . Bitcoin will trade higher because they have nothing to throw on top of the momentum to try to prevent it from rallying.
10baggerbamm OP itsgoodinmysoul : pt 2
I believe at that point regardless of who wins it will trade higher and because of this the transactional volume on coinbase is going to increase for all tokens and their profits go up because these things trade with enormous spreads and they're capturing huge amounts of money. there's a lot of fees to be made and again it's just like an investment brokerage firm when the volume increases their profits go up when the stock market goes down brokerage firms make less money because people took losses retail took serious losses and they don't have the ability to transact they have to wait till their positions break Even again or they save up enough money to go back to the casino and start gambling again in the stock market. this is 100% linear and I can guarantee you and assure you that coinbase will trade significantly higher going forward post-election because Bitcoin will trade higher the confidence will pick up again and the transactional volume around the world for tokens will begin to accelerate. this is the equivalent of the Goldman Sachs coinbase this is the equivalent of BlackRock coinbase. it's my opinion I'm buying on any weakness and building a big ass position.
if you're going to buy the leverage ETF you need to be able to sleep at night because this could be right back down to $18 tomorrow and if you can't take that risk do one of two things just buy coinbase common number one number two don't take as large of a position in this ETF rather take trading profits from other securities and buy into it with the houses chips if you will and that way time is on your side and you're not going to panic when it drops 10 15% in a day or two