Oppenheimer analyst Owen Lau highlights Bitcoin's price, the SEC lawsuit outcome, and overall crypto industry health as pivotal factors for Coinbase's stock price.
Coinbase's stock price may experience near-term volatility due to its ongoing lawsuit with the United States securities regulator, as well as an anticipated decline in the price of Bitcoin (BTC), according to an analyst for investment bank Oppenheimer.
In a recent interview with Yahoo Finance, Oppenheimer analyst Owen Lau outlined that the ongoing legal uncertainty for Coinbase, in relation to its lawsuit with the U.S. Securities and Exchange Commission (SEC) alleging it violated security laws, potentially means that COIN, currently priced at $125, is in for some price fluctuations in the near future.
However, Bloomberg litigation analyst Elliot Stein recently revealed his optimism that Coinbase will receive a full dismissal of its lawsuit against the U.S. regulator, predicting a 70% chance that the exchange will come out of the legal proceedings unscathed.
