Bitcoin ended the first quarter of 2020 down from the start of the year, but not as badly as the record-setting losses suffered by global equities.

For the full quarter, the Nikkei 225 was down 20 percent, the worst three-month showing for the Tokyo-based index since 2008. The FTSE lost 14 percent for the period, its second-worst quarterly performance ever, beating only the fourth quarter of 1987. The S&P 500 was in the red 18 percent to close out Q1 2020, its worst quarter since 1938.

Cryptocurrencies operate 24/7 and don't have quarters for closing the books. However, bitcoin, the market bellwether, was down just 10 percent for 2020’s first three months.