Despite the first quarter pandemic, Bitcoin brought more earnings than stocks
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The Bitcoin cryptocurrency price closes its worst month since January 2018, when it fell from $ 20,000. Although it is bad news, its first quarter still left stock markets in the dust behind it.
A global pandemic tears all markets to pieces. Previous securities such as bonds and precious metals are forfeited. The markets experienced the greatest shock on 12 March, when the virus began to spread rapidly across Europe.
Most of the losses came in mid-March, when the local Asian problem became a global pandemic. In response, half of Europe has been closed, and the US situacion has been gaining momentum in recent days.
In the last three months Bitcoin has fallen by about 10% from $ 7200 to $ 6300. On the other hand, US stock indexes attributed losses of around 20%.
A representative of Luno Vijay Ayyar told to CNBC investment news:
“Bitcoin is still a relatively small market and a group of assets that are increasingly detached from traditional markets. This is a process that is going on right now. That is why I believe that the market crisis will be a big test for Bitcoin. If we think about how it is a young market, he did quite well. ”
