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Bitcoin Price Decline: Entry Opportunity with Shares of Coinbase, Strategy & Co?
The bitcoin price remains under pressure and has suffered significant losses since its record high in January. However, despite the turmoil, some analysts see the current market correction as an entry opportunity for investors to get into the crypto market.
The recent decline in the value of the original cryptocurrency is nothing new; it briefly fell to $85,341 on a major trading platform at the end of February, its lowest level since mid-November 2024. Since reaching a record high of over $109,000 in January, Bitcoin has lost around 24% of its value.
From a technical market perspective, this decline indicates that prices will continue to fall for an extended period, entering a bear market. The price then fell to $219.45 at the end of March, a significant loss over four weeks.
Despite the losses, however, some analysts see the current market correction as an opportunity to get into the crypto market. This could be due to the US Securities and Exchange Commission (SEC) recently closing its investigations into Coinbase and Robinhood, with the new SEC chief Paul Atkins being a pro-crypto candidate backed by Donald Trump.
According to Oppenheimer analyst Owen Lau, this change in regulation could lead to positive effects for the entire industry. He expects a higher price target of $388 for Coinbase shares.
Steven Nie of Daiwa Capital Markets is even more optimistic, anticipating a strong recovery and setting a price target of $400.
It’s not just trading platforms that stand to benefit from a market recovery; Bitcoin miners are also expected to recover. Shares in mining companies like Riot Platforms, MARA Holdings, Core Scientific, and CleanSpark have suffered significant losses this year. Brett Knoblauch of Cantor Fitzgerald rates all four as “overweight” and believes there is still a 16-month bull market for Bitcoin ahead.
In addition to their core business, Bitcoin miners are diversifying by using their high-performance data centers for artificial intelligence projects. The advanced infrastructure, equipped with modern cooling systems and cheap energy sources, could be well-suited to support AI data centers.
While the value of cryptocurrencies remains volatile, the withdrawal of strict crypto regulation by the SEC could ultimately provide long-term stability. Therefore, Coinbase, Robinhood, and leading Bitcoin miners could benefit from a recovery in cryptocurrencies.
The article is part of our Blockchain & Crypto series.
