Bitcoin First Rally In 2023 Leads To Major Gains Of Publicly-traded Crypto Stocks
On January 14, Coindesk reported that just a tiny amount of comeback level in bitcoin (BTC) this week has resulted in an outsized gain of crypto stocks, despite the fact that all publicly listed crypto equities would be down 70%-90% or even more in 2022. According to Coindesk, Coinbase (COIN), which has increased by 49% this week, is one of the major movers. To start the year, the cryptocurrency exchange has experienced a number of sell-side downgrades, price target reductions, and a credit rating downgrade from Moody’s. Additionally, the business this week disclosed a 20% reduction in staff. However, Cathie Wood’s ARK Investment.
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