Have you guys seen Coinbase? Have you guys just looked at it? I Mean I Get it? I Get that the Market's ripping, the Spy is looking good I Get that big coins looking good? But have you guys seen Coinbase? Coinbase in is in absolute Moon mode. Coinbase stock triples in 2023 after firm survives crypto chaos in the shadows of FTX is Sam Bakman freed fraud conviction and Revelations a finance Traders are rushing to snap up shares of Coinbase and hopes that they'll see an influx of business especially if authorities approve exchange traded funds that Target Bitcoin So basically, Coinbase is one of the last major seemingly regulatory approved companies that is publicly traded that is still standing. FTX Capped Binance Colla Yeah, there's Gemini But right now, Coinbase just by like lack of other options has become the bell of the ball that's helped the stock more than triple in 2023 with November's gains which stand out even in the month's pan Market rally adding another 12 billion to the company's market value. The shares are up this month by the most since January pushing past $120 each to trade above the average analyst price target of about 84.

Surprise surprise analysts are wrong again because they're seemingly always wrong. and according to one of these analysts, Coinbase is in a better position today than really any other point as a public company. Adding that the 2022 2023, have been shout years for the industry AKA a crypto winter. Those who survived are going to come out stronger and Coinbase is one that survived.

So uh, let me just add a little bit more context to this before we continue. Remember Coinbase, it is an exchange and also simultaneously a broker. But think about it, when prices go up, people are more excited so they trade it more. It's a Fomo sense.

So from in terms of business, as price goes up, there's more trading. so the exchange makes more money. But then don't forget part of the charges. The transaction fees are based on the underlying value, so as price is going up, their transactions are going higher as well.

So Coinbase is in this strange feast or famine world, where if the prices are going up, there's more trading volume and the kickback they get per trade is also higher. So that's the feast portion. And then if the prices are going down, there's less people trading and the transaction fees are lower. So that's kind of the famine nature of it.

Bitcoin Eyes 40K As 1 billion in Bitcoin withdrawal suggests bullish mood. A large driver to Coinbase ripping from 80 to 120 is because Bitcoin itself is looking very, very good once again, just for posterity sake. As I'm filming, this coin is trading at 126, bouncing off of the low 70s. And then if you look at Bitcoin itself recently bouncing off of 26k, going all the way up to 38k, really eyeing that key 40K level.

The case for a continued rally in Bitcoin to 40K and Higher by the year end has strengthened with centralized exchanges recently witnessing a sizable Exodus of coins. Remember the whole concept of not your keys, not your coin. If you really want to safely secure your own crypto, you do not leave it on. Exchange Just over 37,000 Bitcoin Worth 1.4 billion has been withdrawn from exchanges since November 17th in a sign of investors taking direct custody of their coins.

Bring it to your own wallet I Suggest a cold wallet, but do whatever you think is appropriate. The outflow likely represents a bias for long-term holding strategy, although some of it could have stemmed from Binance's guilty plea that buys for holding mean strong demand and weakening sell-side pressure in the market amid Euphoria from an expected launch of a spot exchange traded ETF So the whole concept of just a Spot Bitcoin ETF being approved that's regulatory Clarity And then on top of that, you have more Highway onramps being built for. Wall Street To officially put money into the world of crypto, exchange outflows have historically marked local price lows, supporting expectations for a medium-term price rise. And then here's the graph.

You could obviously see the price and kind of almost like the inverse nature of how much crypto is on the exchange show. As it's coming down, you're seeing price going up. I For one, think it will be continuing. Obviously a giant benefit to coin, but some people are actually throwing at least a portion of the towel in on their coin position.

Kathy Wood's investment management firm Ark Invest has made its third sale of coin stock this week, dropping 37,000 shares worth almost 4.7 million yesterday. Thursday Along with the sales on November 27th and November 29th, Arit sold around $15 million worth of coin shares this week from its Arc W ETF Now, why is she doing this? Does she necessarily have a bearish thesis on coin? No with her? ETF There are certain management criteria where if it becomes too big relative to the whole ETF they have to sell. and we've seen this historically with her management of Tesla Sometimes she has a position and the position itself has such a percentage gain that it becomes more than 10% of the ETF And thus, by the rules of the ETF, she actually has to sell. And that's most likely what's happening on coin.

It just exploded so much that she doesn't want it to become too sizable of a position representing the whole ETF So it's probably more of just proper management, not necessarily her thinking like coinbase. Andor Crypto is about to take a hit Bitcoin Buyer quietly accumulates 424 million of Bitcoin in 3 weeks. So even though she been doing a little bit of selling, there's definitely some whales buying. The owner of One Mystery Wallet has purchased over 11,000 Bitcoin worth 424 million since November 10th and is now the 74th largest holder of Bitcoin I Know you're watching this.

Who is it? Raise your hand Which one of you Absolute crypto Deens threw down almost half a billion dollars and you're like, you know what? I need more Bitcoin whoever it is obviously a whale, obviously feeling pretty bullish on the current situation.