The Bitcoin crash has caused cryptocurrency stocks to plummet

Bitcoin's price has fallen to its lowest level since December 2020, while ether is on the verge of plummeting below $1,000 following Monday's unpleasant turn in the crypto market.

The stock plunged more than 20% in pre-hours trading, led by business analytics firm MicroStrategy, the world's largest corporate holder of bitcoin, which is still worth $3 billion, and is down 23.18 percent today.

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Coinbase, which is down 10.7 percent on the day, and bitcoin miners Marathon and Riot, which are down 9.95 percent and 8.32 percent, respectively, are also suffering.

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Historically, crypto stocks outperform bitcoin during bull markets and underperform during negative markets. While bitcoin is currently down about 50% year to date, each of these equities has lost between 67 and 80 percent in 2022, as seen below.

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