**The End of Crypto Winter: Analysts Believe Bullrun is Ahead and COIN is Perfectly Positioned**
The crypto market has experienced a significant rise since the beginning of the year, with the total value of the market increasing by over 50 percent. According to H.C. Wainwright, an investment bank based in New York, this marks the end of the “crypto winter,” and the start of a new bullrun cycle. The analysts at the bank also believe that the biggest cryptocurrency exchange, Coinbase (COIN), is perfectly positioned to benefit from the upcoming bullrun.
**BTC Leading The Way**
Bitcoin has seen a 65 percent increase in value since the start of the year. H.C. Wainwright’s message to investors on April 26th was that this marks the start of a new bull cycle, which historically results in significant growth in the crypto market capitalization, higher trading volumes, and an increase in consumer and institutional adoption.
**COIN Ideal Positioning**
H.C. Wainwright said that Coinbase, the largest publicly traded crypto exchange, is ideally positioned for the upcoming bullrun. The bank believes that Coinbase’s market share will likely increase significantly throughout the rest of 2023. According to H.C. Wainwright, the price target for COIN is $75 per share, which is 40 percent higher than the current value of $53. With over 110 million verified users in 100 countries and more than 8 million active users, the bank says that the platform’s activity is “robust.” Furthermore, the presence of a large number of institutional investors is a positive indicator.
**The Bitcoin Halving**
The bullish sentiment is also shared by veteran crypto trader Phillip Swift, who believes that the end of the bear market is near. However, before the bullrun begins, he does not rule out a drop in price to around $20,000. Swift expects that the price of BTC will pick up momentum towards the end of 2023 due to the approaching bitcoin halving. Historically, the halving has been linked to a price increase.
In conclusion, H.C. Wainwright’s announcement of the end of the crypto winter and the start of a new bullrun is significant news for investors. The rise in the crypto market’s total value since the start of the year, combined with Bitcoin’s bullish run, is a positive sign for the market. The analysts’ prediction that Coinbase’s market share will likely increase in the upcoming bull cycle is also an optimistic sign for the company. Finally, the upcoming bitcoin halving is an event to watch closely, as historically, it has been associated with a bull market.