Investment Firm Bernstein Claims: “We Are in the Early Stages of a Bull Market for Cryptocurrencies”

Investment firm Bernstein stated in a report to its clients that the current cryptocurrency bull market is still in its early stages. According to the report, trading platforms like Robinhood and Coinbase stand to benefit significantly from increased trading volume and greater mainstream adoption of cryptocurrencies. Bernstein reiterated his “outperform the market” rating for both companies, maintaining confidence that their strong performance will continue. The report noted that Robinhood's second-quarter results, announced on Wednesday, were impressive. It noted that the company continued to expand its cryptocurrency offerings, with trading volume reaching a six-month high in July. This increase was driven by the recovery in market volatility and increased investor interest in ETH, SOL, and DeFi tokens, driven by Circle's listings. Cryptocurrency trading volume is expected to recover significantly in the second half of the year. Related News: BREAKING: Coinbase Announces Plans for a Strong New Push into Cryptocurrencies - Here Are the Details Meanwhile, the report noted that Coinbase's strategic partnership with JPMorgan Chase has significantly contributed to the popularization of digital assets. JPMorgan's embrace of an industry once criticized by its CEO will accelerate Coinbase's customer acquisition. Bernstein argued that recent developments confirm the view that the bull cycle in the crypto market is still in its early stages, adding, “There is no need for any action for now.” *This is not investment advice. Continue Reading: Investment Firm Bernstein Claims: “We Are in the Early Stages of a Bull Market for Cryptocurrencies”