CLC Cryptolist Club logo CLC Cryptolist Club logo
Seeking Alpha 2021-08-16 15:03:15

HIVE Blockchain stock slides in tandem with MicroStrategy after crypto reversal

Cryptocurrency miner HIVE Blockchain Technologies (NASDAQ:HVBT) slides 1.3% out of the gates, as well as MicroStrategy (NASDAQ:MSTR) (-3.3%) following a decline in Bitcoin (BTC-USD) and Ethereum (ETH-USD). Recently, Bitcoin's market capitalization surpassed $2T, as the largest crypto rose from ~$31K in mid-July to $46.3K on Monday. Bitcoin (BTC-USD) clearly has momentum behind the recent rally, but that may slow with potential resistance at the $50K level. The crypto giants, however, have not fully recovered from its mid-May peak, while HIVE (HVBT) has erased all losses since it got uplisted to the NASDAQ in the start of July. Shares of HIVE (HVBT) climb 28% M/M, while MicroStrategy (MSTR) is also up 26% M/M. It seems that former hedge fund manager Will Meade was well ahead of the HIVE's (HVBT) stock rally, as he expressed at end-June that HIVE (HVBT) "will be the most liquid and lowest priced bitcoin-ethereum stock available for trading on Robinhood," he wrote in

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.