Open Now
Open Now
Watch now

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.

btc

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.

company btc

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.

btc

Related video:

** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

Follow us on Google News

Filed under