A look at data and trends for bitcoin, ethereum and cryptocurrencies during the first quarter of 2020.
The past three months have been eventful for cryptocurrencies as well as traditional markets. The coronavirus outbreak has halted economies and evoked panic amongst investors as uncertainty lingers. The outbreak has also pushed central bankers to move into uncharted territory regarding monetary policy and stimulus measures.
All asset classes experienced sharp declines on ‘Black Thursday’ (March 12th) as panic permeated the markets. While the initial effect on BTC and other cryptocurrencies has been negative, BTC-USD has gained over 75% from its 2020 low. The introduction of unconventional policy tools by central banks around the world should bode well for bitcoin in the long term with its fixed supply schedule and unrivalled status as the leading crypto-asset.
The first quarter has also shown us that Bitcoin is also starting to react more to central bank policy announcements and geopolitical developments. In the final section, we summarize the events that may impact BTC and other crypto-assets. First, we review important metrics and statistics from Q1 2020 to assess the state of the cryptocurrency market going into Q2...
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