Bitcoin, Ethereum, and Dogecoin Collapse Continues
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The crypto market continued to collapse on Monday as a hoped-for reprieve from President Trump's tariffs has failed to materialize. While the stock market has recovered some of its decline, crypto continues to be in the red across the board.
Bitcoin (CRYPTO: BTC) is down 4.4% in the past 24 hours as of 1:15 p.m. ET, and is down 7.6% from Friday's close. Ethereum (CRYPTO: ETH) has fallen 9.8% in the past day and 15% since Friday, and Dogecoin (CRYPTO: DOGE) is down 8.4% and 14.5%, respectively, in that time.
Cryptocurrencies may be sold as an asset class that runs counter to traditional markets, but that's not really the case. Bitcoin and other cryptocurrencies trade correlated to growth stocks, climbing when the market is putting on higher-risk trades in high-growth companies. But when the market drops, the opposite happens: Growth stocks plummet, and crypto often goes with it.
Source Fool.com
