The bitcoin rebound fuels a crypto stock surge
Share prices of bitcoin miners, crypto holding companies, and crypto exchanges have all surged in July.
Aug 8th 2022
Source: Tradingview
There are several crypto stocks from various sectors in the crypto ecosystem, such as bitcoin miners, crypto holding companies, and crypto exchanges.
Crypto stocks have tended to follow the bitcoin price, albeit with a higher beta, meaning that they amplify bitcoin’s price movements both to the upside and the downside. Looking at the chart, we can see how correlated these stocks are, resulting from their high correlation to the bitcoin price.