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Cryptocurrency stocks holding gains despite bitcoin pullback

Discussion in 'Economics' started by mdarif78781, Dec 24, 2017.

  1. mdarif78781

    mdarif78781 Quarker

    Stocks that surged in recent weeks because of the cryptocurrency mania have managed to hold onto most of their gains despite the recent retreat in the price of bitcoin and scepticism from market participants.
    A Reuters analysis of 17 stocks of companies that have made blockchain or cryptocurrency announcements showed an average gain of 224 percent through Thursday’s close from they released those statements.

    Many of the crypto stocks came under pressure on Friday, as the price of bitcoin tumbled below $12,000 to put it on track for its worst week since 2013. Riot Blockchain dropped 15.3 percent to $23.36, and Overstock.com, which announced in August that it would accept major alt-coins as payment, was down 6.5 percent at $63.05.

    Even with the declines on Friday, bitcoin itself is still more than double from its price at the start of November while the stocks are still well above their prices before the companies made cryptocurrency announcements.
    0004masud and nurealam like this.
  2. CryptoYears

    CryptoYears Quarker

    Very honestly speaking, I feel these are very much a routine deal and if you are aware of the history of these then you SHOULD realize this is quite normal. We just need to ensure that we take PROPER advantage of this; it’s the ONLY way forward in terms of gaining.

    I am always alert to these developments, and thanks to Cryptonewstrends, it is not hard. They are non-stop news providing site, so with this I am able to be on the mark with all the latest in the Crypto market and then act right away to gain.

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