BTC - Here's What Was Hurting These 3 Cryptocurrency Stocks This Week
Last weekend, China's government was hard at work trying to stop the mining of cryptocurrencies in its country, causing the price of Bitcoin (CRYPTO: BTC) to drop. Bitcoin briefly dipped below $30,000, erasing all of its gains thus far in 2021. And while it's bounced back to around $34,800 as of this writing, it's still down for the week.
Cryptocurrency stocks like MicroStrategy (NASDAQ: MSTR) , Canaan (NASDAQ: CAN) , and Ebang International Holdings (NASDAQ: EBON) were all down this week as a result. As of market close on Thursday, these are down 10%, 10%, and 14%, respectively. Here's how these companies are handling these intensifying regulatory pressures.
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Here's What Was Hurting These 3 Cryptocurrency Stocks This Week