Much of this month has been a time of turmoil for markets across the world. Even Bitcoin, the primary cryptocurrency, has fallen from $8000 to $5000. Currently, there are no clear signs of whether bulls are going to take control, but Bitcoins current oddly high correlation with traditional assets has held its price low. While many cryptocurrencies are now sitting on the stands, stablecoins have picked up. After the recent market meltdown, there had been a
rapid growth in the stablecoin demand.
If you prefer to stay out of the market for now no one can blame you, the uncertainty that we are facing is a enormous, even if somehow governments around the world can solve the crisis with the corona virus during the next months its effects are probably going to remain for way longer than that especially when it comes to the economy, and I think it is likely the market of cryptocurrencies will suffer a similar fate as investors prefer to stay out of this market out of the fear to see another instantaneous crash like the one we saw a week ago.