In addition to a small number of stocks, Bitcoin (BTC) is considered the asset that shows the worst performance in all markets. This week alone, the coin has fallen 42% – a record on the cryptocurrency market.
This has disappointed those who still store Bitcoin as a safe haven asset during times of crisis. Sadly, it is the most heavily affected asset class in the historic shock of the global market. From $ 9,000, BTC has dropped to around the $ 5,000 area
Ethereum is equally badly damaged. This leading smart contract platform loses 44% of its value in just one day. In 1 week, ETH still performed better than Bitcoin, down 38% weekly. Overall, the cryptocurrency market last week recorded a record decline.
Equally affected stock market. At the top is Italy's FTSE MIB, which is down 23.92%. Austrian ATX, WIG of Poland, Euronext BEL 20 of Belgium all fell over 20%. The Dow Jones index of America was no less, falling nearly 16% in the past week.
Fear in the market is still high
The markets are now pretty quiet. Whether or not this downtrend continues, the global outlook still looks bleak. A decline in demand can lead economies to a standstill, when economic and travel restrictions are maintained to prevent coronavirus outbreaks.
The US emergency does not seem to improve much to market confidence. That is why many transactions stand on the sidelines and wait for the next developments.
In the meantime, the index Fear & Greed of the cryptocurrency market is still at a historic high. It also seems that the fear index is covering the global market but now there is no sign of abating.
Maybe you are interested:
Join our channel to stay up to date on the most useful news and knowledge at:
According to BeInCrypto