Making COIN on Mean Reversion

Steve Strazza
November 30, 2022

From the desk of Steve Strazza @sstrazza

I’m pinch-hitting on the crypto note today.

It’s not so much because JC and Louis needed me to step in. It’s because I wanted to share something with you. 

I want to discuss a potential mean-reversion trade opportunity in Coinbase $COIN.

I think it’s one of the best ways to express a bullish tactical thesis on cryptocurrency markets right now.

I know that’s really not saying a lot these days. The asset class is a mess. “Disaster” might be a better descriptor, particularly as it relates to the FTX meltdown.

In the aftermath of its collapse, how can we trust any of the crypto exchanges right now? Why the hell would we want to buy Coinbase? Isn’t it just the next domino to fall?

Hear me out…

 

 

 

 

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