Why Bitcoin, Coinbase, and Silvergate Capital Are Falling Today
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.
