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Coinbase: Buy the Dip?

TheMotleyFool

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Coinbase: Buy the Dip?: https://g.foolcdn.com/editorial/images/723906/falling-chart-on-tablet.jpg

Spurred by rapidly rising interest rates, the cryptocurrency market drawdown in 2022 wiped out roughly $1.4 trillion of value from the asset class. Investor appetite waned as they sought out safer places to park their capital in a period when uncertainty was elevated. Additionally, the failures of multiple major crypto firms shined a spotlight on just how much the regulatory framework needs to improve.

One of the most popular cryptocurrency companies, Coinbase Global (NASDAQ: COIN), saw its shares crater by 86% last year. And although the stock is up 78% in 2023 (as of this writing), it is still well off its all-time high. Does this mean now is a good time for you to buy the dip?

Let's take a closer look.

Source Fool.com

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