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This year, bitcoin and cryptocurrency prices have been on a roller coaster, crashing back after a peak in April (subscribe now to Forbes’ CryptoAsset & Blockchain Advisor to learn about crypto blockbusters poised for 1,000 percent gains). The bitcoin price surge coincided with the Nasdaq launch of Coinbase, a prominent U.S. crypto exchange, which helped to raise awareness of the company but did not prevent it from plummeting in tandem with the bitcoin price since April.
Now, ahead of Coinbase’s highly anticipated second-quarter earnings report, Goldman Sachs analysts have reiterated their “buy” rating for the company, predicting that even a lower bitcoin price could be beneficial to its earnings.
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ADDITIONAL INFORMATION FROM FORBESLeaked As Ethereum Crash Adds To $100 Billion Crypto Rout, JPMorgan Report Reveals Extreme Bitcoin Price VolatilityWarningBy Billy Bambrough

One of the world’s largest bitcoin and cryptocurrency exchanges, Coinbase, has listed its stock on the… [+] The Nasdaq at the peak of the bitcoin price rally in 2021.
courtesy of Getty Images
ADDITIONAL INFORMATION FOR YOU
The email to clients stated that “significantly enhanced crypto asset volatility” created a trading boom, which will result in Coinbase taking in additional fees. Coindesk was the first to report on it. As a result, analysts predict that the company’s earnings will exceed market expectations.
Goldman Sachs, which advised Coinbase on its direct listing, cited one of its earlier analyst reports claiming that high fees would continue to flow into the exchange even if bitcoin’s price fell further.
Coinbase’s stock price is currently down a third from its April high, pulled lower by a crashing bitcoin and cryptocurrency market that has lost more than $1 trillion in value in recent months. China’s shutdown of miners, who utilize powerful computers to protect bitcoin and crypto networks in the nation, spurred the crypto sell-off.
However, due to a huge drop in trading volumes across most major exchanges since the bitcoin and crypto price meltdown, Coinbase costs may have suffered.
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Billy Bambrough contributed to this article.

The price of bitcoin has dropped from its April high, but continued crypto price volatility could mean… [+] Fees continue to bring in money for Coinbase.
Coinbase
According to a report released this week by data firm CryptoCompare, trading volumes at the largest exchanges, including Coinbase, Kraken, Binance, and Bitstamp, fell by more than 40% in June. Reuters was the first to report that spot trading volumes fell 42.7 percent to $2.7 trillion in May, while derivative volumes fell 40.7 percent to $3.2 trillion.
“The digital asset ecosystem was punched in the face,” Teddy Vallee, chief investment officer at Pervalle Global, told CNBC. “It’s currently up against the ropes versus fighting in the middle of the ring.” “Typically when you have large sell-offs, participants are quite fearful and pull back their chips.”/nRead More

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