Mitchell Askew of Blockware Solutions said investors cashed in some profits during the end-of-December holiday period after a strong month.
Disclaimer: A previous version of this story inaccurately stated the stocks tumbled on the first day of trading in 2024, instead of the last trading day of 2023.
Major crypto and Bitcoin mining-related stocks, which tumbled as much as 17% on the last day of trading in 2023, were simply part of a “healthy pull back,” says a Bitcoin analyst.
According to Google Finance, Bitcoin mining firms were hit the hardest during the day. Shares in Marathon Digital Holdings (MARA) tumbled 16.6% to $23.5 on Dec. 29 while Riot Platforms (RIOT) fell 12.1% to $15.5.
