Bernstein: Behind the big dump of encryption stocks, the industry's fundamentals are actually strengthening?

Question

[Block Rhythm] Recently saw that Bernstein released a report, which is quite interesting. They said everyone is waiting for the real bottom signal of Bitcoin, but this continuous fall is completely different from those previous pullbacks.

The numbers are indeed a bit grim. Over the past month, Coinbase dropped by 21%, Circle was even harsher, losing a direct 37%, and Robinhood also fell by 12%. Gautam Chhugani's team admitted that the sentiment around crypto-related stocks is truly low.

However, their view is that it looks bad on the surface, but the foundation is actually quite solid. What are those core crypto operating companies doing? Transforming, finding new ways to make money; the business fundamentals are actually very strong. The ones that truly burst are those random projects that blindly follow the Strategy. As for the Strategy itself? They have made it very clear, “No real scenario will make it unable to survive for a long time.”

Bernstein's conclusion is quite straightforward: stock prices are severely disconnected from actual operational performance. The regulatory environment is improving, and business models are upgrading. These companies, which previously hesitated to act due to unclear policies, are now starting to engage in those activities. They are no longer relying solely on the cyclical income from trading fees to get by, but are expanding towards a more stable direction.

ZenChainWalker · Accepted Answer

The stock price may fall, but the team is quietly making a fortune, and that&#39;s the signal.

WenAirdrop · Answer

When the stock price falls, they start saying the fundamentals are good; I&#39;ve heard this line so many times... Forget it, but this time there are indeed quite a few companies focusing on their work. Once the regulation eases, it will To da moon.

FloorPriceNightmare · Answer

The stock price has fallen to the ground, but the fundamentals are amazing? Sounds like they want to play people for suckers again.

RumbleValidator · Answer

Is the stock price disconnected from the operational performance? Does this data support it? Let&#39;s talk about the node efficiency indicators.

just_here_for_vibes · Answer

The stock price may fall, but the fundamentals are indeed paving the way, which is why I am still continuing to accumulate.

BankruptcyArtist · Answer

The stock price is fluctuating wildly, but the fundamentals are secretly getting stronger? I&#39;ve heard this trap too many times, haha

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To put it nicely, it just means it&#39;s not our turn to make money yet

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Will income expand as soon as regulation improves? Then why is it still falling now?

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The core company&#39;s transformation and upgrade, I just want to know when it will be reflected in the coin price

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It&#39;s not just the stock price and operations that are disconnected, but also my mindset and reality

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Is Bernstein&#39;s report for himself? The market has already given the answer

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Just listen and don&#39;t take it too seriously, the "fundamentals" in the crypto world change too fast.