Blockchain Stocks Plunged in Morning Trading with Coinbase Stock Tumbled over 12%

Tiger Newspress2022-01-21

Blockchain stocks dropped in moring trading with Coinbase stock tumbled over 12%. Crypto selloff pushes bitcoin to a six-month low of $38,000.

Cryptocurrencies sank Friday, taking Bitcoin to the lowest level in more than five months as risk aversion again swept across global markets.

The largest cryptocurrency dropped as much as 7.4% to $38,261, while second-ranked Ether slid below $3,000. Digital tokens overall have shed some $1 trillion in value since a November peak, according to CoinMarketCap data.

“Bitcoin and the broader crypto market remain subject to the whims of macro variables,” Fundstrat Digital Asset Research strategists Sean Farrell and Will McEvoy wrote in a note.

Virtual coins have become emblematic of a retreat in speculative investments sparked by the prospect of tighter monetary policy in the U.S. Bitcoin of late has tracked swings in technology stocks, which have been under pressure, with the Nasdaq 100 tumbling into a correction on Thursday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

PEPESZ
2022-01-24
PEPESZ
[Cry] [Cry] [Cry] [Spurting]
cutemiao
2022-01-24
cutemiao
Sad, just as I bought it.
AhKeong
2022-01-24
AhKeong
It's a buy time
PhilipGoh
2022-01-24
PhilipGoh
[Cry] [Cry] [Cry]
SPOT_ON
2022-01-24
SPOT_ON
Game over
ShadowBan
2022-01-23
ShadowBan
end of easy money

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