In a move that could have major implications for the cryptocurrency market, New York-based investment bank H.C. Wainwright has declared an end to “crypto winter.” The bank’s analysts recently initiated coverage of U.S. crypto exchange Coinbase with a “buy” rating, citing the growing cryptocurrency industry around the globe.

Crypto winter refers to a period of time when cryptocurrency prices fall sharply and investor sentiment turns negative. The most recent crypto winter began in late 2018 and lasted for over two years. During this time, many cryptocurrency projects were abandoned or failed to gain traction, leading some experts to declare that the industry was in a permanent decline.

However, H.C. Wainwright’s bullish outlook for Coinbase suggests that the cryptocurrency industry is poised for a comeback. The bank’s analysts believe that Coinbase is well-positioned to benefit from this growth, thanks to its status as one of the largest and most trusted crypto exchanges in the world.

In their report, H.C. Wainwright’s analysts noted that Coinbase has a strong track record of generating revenue and profits, and has a “best-in-class” management team. They also pointed out that the company’s recent IPO has given it access to significant amounts of capital, which it can use to invest in new products and services.

“Coinbase is at the forefront of a rapidly evolving industry, and we believe it has the potential to be a major player in the years ahead,” the report stated. “We are confident in the company’s ability to continue generating significant revenue and earnings growth, and we believe that its shares are undervalued at current levels.”

The bank’s bullish outlook for Coinbase has already had an impact on the cryptocurrency market. Since the report was released, the price of Bitcoin (BTC), the world’s largest cryptocurrency, has risen by over 5%. Other cryptocurrencies, including Ethereum (ETH) and Ripple (XRP), have also seen gains.

However, some experts caution that the cryptocurrency market remains highly volatile, and that investors should proceed with caution. “While we’re encouraged by H.C. Wainwright’s bullish outlook for Coinbase, it’s important to remember that the cryptocurrency market can be extremely unpredictable,” said one analyst.

Despite these concerns, many investors are likely to take note of H.C. Wainwright’s bullish outlook for Coinbase. The bank’s reputation as a respected investment firm, combined with its track record of accurate predictions, means that its analysis is likely to carry significant weight in the market.

As the cryptocurrency industry continues to evolve, it’s clear that companies like Coinbase will play a major role in shaping its future. With H.C. Wainwright’s support, Coinbase is well-positioned to capitalize on this growth and help lead the industry