Crypto stocks bounced this morning along with cryptocurrencies like Bitcoin.
What happened
Shares of several crypto stocks bounced today, as the price of the world's largest cryptocurrency, Bitcoin (BTC -1.99%) , rose over the weekend and investors changed their outlook for interest rate hikes.
Shares of the Bitcoin mining company Riot Blockchain (RIOT 0.14%) traded more than 19% higher as of 11:50 a.m. ET today. Shares of the crypto bank Silvergate Capital (SI -1.66%) traded more than 14% higher, and shares of Hut 8 Mining (HUT -1.89%) were up more than 16%.
So what
Stocks and cryptocurrencies have risen in recent days after a volatile last week in which new data showed that inflation in June stayed hot and investors began to get nervous over just how hawkish the Federal Reserve might be with interest rate hikes.
After the new inflation data, some surmised the Fed could raise its benchmark overnight lending rate, the federal funds, by a whole percentage point at its meeting later...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...