Despite the gloom in the crypto market, Bitcoin would have outperformed the stock market in the first quarter of 2020. Despite this feat, the price of the cryptocurrency remains relatively low compared to its annual peak of $ 10,000. A relatively resilient market The financial markets have been hit hard by the COVID-19 pandemic, causing most financial stocks to fall. On the crypto-market side, the health crisis brought Bitcoin to its lowest annual level of $ 3,600 before recovering again in the $ 6,000 region. In the past three months, Bitcoin has fallen 10% from $ 7,200 to $ 6,350, with Bitcoin performance outperforming financial stocks.

However, last quarter, the main stock market indices posted performances far below that of the Bitcoin market. The Dow Jones Index had the worst quarter ever since the 2008 stock market crash, falling 23%. While the S&P 500 has dropped 20%. European indices were also in free fall in the first quarter of 2020. The independence of Bitcoin Since the start of the crisis, the growth of the crypto-industry and the financial market have both declined considerably. However, despite this similarity, the price of Bitcoin would be less and less correlated with that of financial stocks. “Bitcoins are still a relatively smaller asset class that is less and less correlated with traditional asset classes, and this is being implemented as we speak,” said a study by the 'exchange SFOX. However, the stock market has yet to bottom out and is poised to face "two very, very painful weeks," according to recent comments by Donald Trump. Thus, the United States expects the coronavirus crisis to continue for another two weeks, thereby disrupting all economic activity.