Crypto-Related Stocks Also See Price Drops as Market Slumps

2021-12-7 22:31

Stocks closely associated with cryptocurrencies have also taken a hit as the market overall has downturned.

Among the hardest hit is Marathon Digital Holdings, which has fallen nearly 30% since December 1 to just over $40. Over that same period of time, Riot Blockchain similarly fell 30%, from just over $40 itself to just below $28. Meanwhile, MicroStrategy has fallen 20% since the beginning of the month. Other stocks affected by the recent selloff in digital assets include Bakkt Holdings and Coinbase Global, which fell 9% and 4% respectively.

“Crypto coins and tokens have been propelled higher in this era of ultra cheap money and as speculation swirls about just when central banks will start further tightening mass bond buying programs and start raising interest rates, they are likely to continue to be highly volatile,” said Hargreaves Lansdown analyst Susannah Streeter.

Crypto markets curtailed

Concerns over the Omicron variant of the coronavirus and inflation news from the Federal Reserve spilled over into the cryptocurrency markets. Uncertainty over these issues has caused investors in traditional markets to withdraw from riskier positions, which carried over to more volatile digital assets. At one point over the weekend, Bitcoin plummeted over 20%, falling below the $50,000 threshold to $42,000, but has since recovered to roughly $49,000.

This broad move away from riskier assets was largely triggered by growing concerns over the new Omicron variant of coronavirus pandemic. Fears over the spread of the new variant have renewed travel restrictions worldwide, as scientists try to determine whether current vaccines will be effective against it.

Meanwhile, Federal Reserve Chairman Jerome Powell said the central bank could begin tapering much faster than previously expected last week. He even suggested potentially raising interest rates in the first half of next year, which has shown to diminish the appeal of speculative assets like Bitcoin.

What do you think about this subject? Write to us and tell us!

The post Crypto-Related Stocks Also See Price Drops as Market Slumps appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market stocks crypto-related slumps price see drops

market stocks → Результатов: 126


Crypto Daily Recap: Top Bitcoin and Blockchain News For Today November 14th [VIDEO]

Can Connection Between Cryptos And Stocks Hurt the Financial Industry World Wide? Can Connection Between Cryptos And Stocks Hurt the Financial Industry World Wide? XRP Coin Price Grows Amid New Ripple Product Interoperability Despite Slumping Crypto Market XRP Coin Price Grows Amid New Ripple Product Interoperability Despite Slumping Crypto Market Bitcoin Investors and Traders Are […]

2018-11-15 05:33


BitFinance: Safe Crypto Investment Wealth Management Platform?

The financial markets are worth trillions of dollars. They also encompass more than just stocks and currencies. There is a whole market of alternative investments worth well over $15 trillion. This money is distributed across more than 10,000 assets, so there are a lot of investment options to choose from. Unfortunately, this market is closed […]

2018-11-6 07:07


Фото:

Ten Years after Lehman Brothers Sunk, Wall Street Comes Full Circle on the Back of Bitcoin

Ten years after Lehman Brothers filed for bankruptcy in 2008, a host of new financial offerings is hoping to entice sullied investors back into the market. The task hasn’t been easy, however. The financial crisis that spawned Bitcoin has left enough emotional damage to keep those with a keen sense of memory far from equities and traditional stocks.

2018-9-15 10:00


Фото:

Are Penny Stocks Worth It? What You Need to Know

Many investors new to the stock trading market make the mistake of thinking that penny stocks are the simplest form of trading. The name is deceptively appealing. After all, what could be so scary about paying a couple of pennies for the chance to earn big on a growing stock? Unfortunately, penny stocks aren’t quite […] The post Are Penny Stocks Worth It? What You Need to Know appeared first on ZyCrypto.

2018-9-5 10:53


Cryptocurrency Bear Market Blues: How To Manage Bitcoin Investments During Slow Times

Bear Market Leads to the Rise in Crypto Correlation Recent analysis shows that levels crypto correlation have greatly increased lately, with Bitcoin (BTC) as a ringleader. Bitcoin Controls The Prices Of Other Coins One of the biggest differences between cryptos and conventional shares, stocks, and similar financial products lies in the fact that their prices […]

2018-8-11 01:15