Coinbase shares up 27% in October as Bitcoin rallies to $68,000
The crypto industry’s flagship company is on a roll, benefiting from a sector wide rally that is pushing the price of Bitcoin close to its all-time high. So far this month,Coinbase stock is up around 27% this month, going from $165 to $210.
Coinbase shares serve as a surrogate for the broader crypto market because the stock typically rises alongside Bitcoin prices. Bitcoin rallied 15% after slumping below $60,000 in the first part of “Uptober,” a nickname for the currency’s historically fruitful month. The broader crypto market is up 4% since October 1, according to the Coindesk 20 Index, while the S&P 500 is up 2%.
Coinbase shares have made a comeback this year after reaching an all-time low of $33 at the beginning of…
