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Why Crypto Stocks Plunged Today

TheMotleyFool

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Cryptocurrency stocks dropped early on Thursday along with most cryptocurrencies themselves. As of early afternoon, Bitcoin (CRYPTO: BTC) is down 4.8% in the last 24 hours to $44,284, while Ethereum (CRYPTO: ETH) is down 6.4% to $3,025.43.

It's no surprise then that an exchange like Coinbase Global (NASDAQ: COIN) fell as much as 7.9% today, while miners Bitfarms (NASDAQ: BITF) and BIT Mining Limited (NYSE: BTCM) were down 10.3% and 14.9%, respectively, at their lows. As usual, there are multiple factors driving crypto stocks in the short term.

Image source: Getty Images.

Source Fool.com

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