“Don’t worry” is the message from brokers about Australia’s cannabis stocks.

By Tuesday’s market close — amid a 3.2 per cent sell off in the broader ASX200 — the only one of Australia’s 18 or so pot stocks in the green was CannPal (ASX:CP1) — which was up 19 per cent to 21.5c on no news.

Among Tuesday’s cannabis casualties were hemp seed food makers Queensland Bauxite (down 15 per cent to 4.5c) and Eve Investments (down 14 per cent to 1.2c). Cannabis-flavoured beer brewer eSense Lab fell 14 per cent to 21.5c.

The rest fell between 4 per cent and 14 per cent.

(Head here to find out which resources juniors held up today).

But about half of ASX-listed pot stocks are ahead for 2018.

Botanix — which is raising $15 million to fund development of an acne treatment — is up 73 per cent for the year. MGC Pharma and Zelda are up 10 per cent.

Peak Asset Management’s Niv Dagan expects the cannabis carnage to begin to stop as early as Wednesday.

He says there should be a “strong bounce” this week because the fundamentals driving markets — the US economy being a big one and the better-than-expected results from US listed companies — are still there.

“The market is getting a re-rating in general,” he told Stockhead. “A lot of the [cannabis] stocks that are getting hit are the ones the market believes may need to raise money soon.”

He says companies like Medlab Clinical (ASX:MDC) and Creso Pharma (ASX:CPH), both of which just undertook capital raisings, should come back strongly.

Medlab was down 8 per cent to 73c on Tuesday night, and Creso was down 4.7 per cent to 81c.

Red Leaf Securities chief John Athanasiou says it’s a buying opportunity.

He’s still strongly backing The Hydroponics Company, which Red Leaf supported in its ASX listing last year.

“We’ve had a strong rally in the market so it’s not surprising that we’ve had a pullback,” he told Stockhead.

He says one reason why the market is down is suggestions that the US will hike its cash rate — a sign he takes as a positive because it shows how strong their economy is.

The marijuana selldown appears to have mitigated in Canada as well, where the world’s largest cannabis companies live.

The Canada Marijuana Index, which includes 24 listed constituents, was up 2.24 per cent on Monday.

What about blockchain?

The outlook for that other hot sector — cryptocurrency and blockchain — is less clear.

Bitcoin dropped to a low of $US5995 on Tuesday, down 69 per cent from its peak in December.

None of the ASX-listed 24 crypto-related small caps were in the black on Tuesday and all were keeping their heads down.

Worst hit was Serpentine Technologies (ASX:S3R), down 30 per cent to 0.7c.

DigitalX (ASX:DCC), Fatfish Internet Group (ASX:FFG) and Sportshero (ASX:SHO) were down between 15 and 18 per cent.

Newcomer Genetic Technologies, which has been in a trading halt throughout the rout, said today it’s rewarded Paul Kasian, the board member who supported the victorious coup leaders, with the role of CEO as well as the chairmanship.

Another which has beaten the rout by virtue of not trading is Byte Power (ASX:BPG), which was forced to concede last night that its first ICO deal had fallen through.

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