{"id":418619,"date":"2020-03-19T16:00:42","date_gmt":"2020-03-19T16:00:42","guid":{"rendered":"https:\/\/uniquehot.com\/?p=418619"},"modified":"2020-03-19T15:44:08","modified_gmt":"2020-03-19T15:44:08","slug":"crisis-impact-most-assets-returned-to-2016-prices-while-bitcoin-holds-strong","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crisis-impact-most-assets-returned-to-2016-prices-while-bitcoin-holds-strong\/","title":{"rendered":"Crisis Impact: Most Assets Returned to 2016 Prices While Bitcoin Holds Strong"},"content":{"rendered":"
Bitcoin<\/a> and the rest of the cryptocurrency market has been collapsing alongside traditional equities<\/a>, precious metals<\/a>, and the rest of the financial world as a liquidity crisis unfolds.<\/span><\/p>\n Fears over the coronavirus has investors preparing for the worst, cashing out assets at a rapid rate, and driving down prices of most assets to prices not seen since 2016. Bitcoin, however, has held strong by comparison, trading at prices still well above its 2018 bottom.<\/span><\/p>\n Catastrophe has hit markets over the last few weeks, as the coronavirus has reached pandemic proportions and cases continue to climb globally.<\/span><\/p>\n As investors brace for a potential recession, and one unlike the world has ever witnessed in the past, assets are being cashed out in a panic.<\/span><\/p>\n Related Reading | No Haven Safe: Silver, Gold and Other Precious Metals Nosedive Alongside Bitcoin\u00a0<\/a><\/strong><\/em><\/p>\n The sudden surge in panic-selling is driving prices of most assets down to levels not traded at since 2016.<\/span><\/p>\n Across the stock market, major indexes like the Dow Jones Industrial Average, S&P 500<\/a>, and Japan\u2019s Nikkei 225 have fallen by a large margin to prices of late 2016.<\/span><\/p>\n <\/p>\n In the typically stable precious metals market<\/a>, silver fell to levels dating back to the last recession, and platinum fell to the lowest price in decades.<\/span><\/p>\n <\/p>\n Gold, meanwhile, has remained relatively strong proving its value as a safe haven asset<\/a>.<\/span><\/p>\n However, even gold suffered extreme losses over the last few weeks. The same performance occurred during the start of the last recession, but later gold not only held its value but began to climb as inflation took hold across the globe.<\/span><\/p>\n Bitcoin<\/a> often called the digital counterpart to gold, shares many similarities with the precious metal, such as a limited supply. <\/span><\/p>\n It\u2019s been said that due to this attribute, Bitcoin could behave similarly to gold in the face of a recession. The only problem is, Bitcoin has yet to actually face a recession.<\/span><\/p>\n <\/p>\n The only ten-year-old asset, however, is already showing much resiliency while other assets tumble. While most of the financial world has been set back to 2016 or even earlier, Bitcoin<\/a> has thus far held strong above its 2018 \u201cbottom\u201d at $3,200.<\/span><\/p>\n https:\/\/twitter.com\/loganhan_\/status\/72979200?s=21<\/p>\n The asset is still trading well above the 2018 close and 2019 yearly open, and inflation hasn\u2019t even begun to take shape in the current recession that\u2019s only just getting underway.<\/span><\/p>\n Related Reading | Will Bitcoin\u2019s True Value Proposition Shine During End of Times Scenario?\u00a0<\/a><\/strong><\/em><\/p>\nTraditional Asset Markets Get Slammed Amidst Liquidity Crisis and Pandemic Outbreak<\/h2>\n
Bitcoin Holds Strong, While Other Assets Collapse to 2016 Prices<\/h2>\n