Coinbase has solid fundamentals and generates $1B revenue.While it's facing challenging economic cycle, it’s far from collapsing and repeating Pets.com's doomsday.Coinbase is a proxy investment to the crypto space if some are still not comfortable with direct investment in crypto space.For long-term investors, with the pull-back in Coinbase stock price, it's a good opportunity for entry for a potential 7.2x upside gain during the recovery within this four-year crypto cycle.While Coinbase's (COIN) stock price plummeted over -89% from an All-Time High ((ATH)) to its lows, many compare the broader market drawdown, including S&P 500 and Nasdaq, to the dot-com bubble burst in 2000. However, Coinbase is far from collapsing and repeating Pets.com's doomsday. Coinbase continues to generate over $1B in revenue even during a tremendous downturn due to macroeconomic headwinds, equity market sell-off and cascading deleveraging and downward pressure in the crypto market. Nonetheless, a significant difference exists between the Coinbase business' resilience and Pets.com. Pets.com had $6M in revenue and went from start to IPO, then bankrupt within exactly two years. Nonetheless, the current macro environment is very challenging, and undoubtedly, the Coinbase valuation and multiples were over-extended in the 2021 bull cycle with mismatched growth expectations.Crypto brief - four-year cycleInvestors should understand the crypto market's cy...
