Cryptocurrency Stocks Trade in All Directions Today, Even as Bitcoin Climbs Above $34,000

Bitcoin was rising again on Tuesday. As of 4:15 p.m. EST, bitcoin was up 8% over the previous 24 hours and had briefly surpassed $34,000 per token earlier in the afternoon, according to CoinDesk. Its daily high of $34,221 was within 1% of its all-time high, which was hit over this past weekend.

Most days when bitcoin is up, cryptocurrency stocks track higher, as well. There's some fundamental basis for this (as we'll see in a moment). But other factors impact stock prices, as well. Indeed, crypto stocks showed no real correlation to the price of bitcoin today. Some were up, some were down, and some traded sideways.

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Source Fool.com