Why Bitcoin, Coinbase, and Silvergate Capital Are Falling Today
Crypto prices and stocks fell today along with the broader market, as investors continued to weigh future economic conditions and monetary policy from the Federal Reserve.
Over the past 24 hours, the price of the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC), traded down more than 2% as of 3:16 p.m. ET today. Shares of the large cryptocurrency exchange Coinbase (NASDAQ: COIN) had fallen roughly 9.3%, and shares of the crypto bank Silvergate Capital (NYSE: SI) were down roughly 7%.
The price of Bitcoin is tremendously impactful on the entire crypto industry, so its movement tends to take other crypto stocks and cryptocurrencies with it. As of this writing, Bitcoin traded around $20,293 and is down more than 57% this year.
Source Fool.com
