Why Crypto Stocks Plunged Today
Shares of any stock related to cryptocurrencies had a rough start to the week Monday and some were down over 10%. Bitcoin (CRYPTO: BTC) fell from about $62,000 when the market closed Friday to $55,880 as of this writing, although its low yesterday was below $54,000. Ethereum (CRYPTO: ETH) was over $2,400 when the market closed Friday and is now at $2,176.
There are a number of stocks that have taken it on the chin as a result, but Square's (NYSE: SQ) drop of 5.3% was notable today. MicroStrategy (NASDAQ: MSTR) and Ebang International Holdings (NASDAQ: EBON) also fell 10.1% and 15.1% at their lows. The three stocks are down 3.9%, 8.5%, and 9.3% respectively as of 4 p.m. EDT.
Image source: Getty Images.
Source Fool.com
