After a surge last week, bitcoin and cryptocurrency equities fell on September’s last trading day, but they are still expected to have a strong month.
The flagship cryptocurrency was down 3.5% at $63,612.63 last night after momentarily regaining the $65,000 mark the previous week. Cryptocurrency stocks like MicroStrategy dropped 5% and Coinbase declined 3% during premarket trading.
In anticipation of a potential economic shock ahead of the holiday season, investors are preparing for strikes at ports around the East Coast and the Gulf Coast after midnight on Monday.
Moreover, as net inflows into globally traded cryptocurrency exchange-traded products advanced to their highest level since mid-July.
This comes as bitcoin surged about 5% in the five days ending on September 27. Meanwhile, MicroStrategy saw a 21% gain and Coinbase saw a 12% gain within that same time frame. These stocks saw a 6% increase on Friday.
Source (CNBC)
