As a seasoned crypto investor with battle-tested nerves and a portfolio that mirrors the rollercoaster ride of a Ferris wheel, I find myself standing at the precipice of yet another market downturn. The recent tumble of major cryptocurrency stocks, including MicroStrategy (MSTR), Coinbase (COIN), and mining giants like Bitfarms (BITF) and Riot Platforms (RIOT), is a stark reminder that this game isn’t for the faint-hearted.
In a widespread market crash, the shares of significant companies connected to major cryptocurrencies have fallen simultaneously alongside Bitcoin.
During the recent trading session on Friday, I observed a noticeable dip in the share prices of MicroStrategy (MSTR) and Coinbase (COIN). Both companies experienced a decline exceeding 5%.
The significant stocks of leading cryptocurrency mining corporations such as Bitfarms (BITF) and Riot Platforms (RIOT), along with others, have also experienced a drop.
Today, the price of Bitcoin plummeted to a record low of $92,245 during the day, as shown by CoinGecko’s statistics.
The flagship cryptocurrency is currently changing hands at $97,022 after paring some losses.
According to my observations based on U.Today’s report, the cryptocurrency market experienced a significant downturn when the Federal Reserve hinted at reducing monetary easing measures as early as 2025.
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2024-12-20 19:09