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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Crisis Impact: Most Assets Returned to 2016 Prices While Bitcoin Holds Strong

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read

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Created by industry experts and meticulously reviewed
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Bitcoin and the rest of the cryptocurrency market has been collapsing alongside traditional equities, precious metals, and the rest of the financial world as a liquidity crisis unfolds.

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.

Traditional Asset Markets Get Slammed Amidst Liquidity Crisis and Pandemic Outbreak

Catastrophe has hit markets over the last few weeks, as the coronavirus has reached pandemic proportions and cases continue to climb globally.

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.

Related Reading | No Haven Safe: Silver, Gold and Other Precious Metals Nosedive Alongside Bitcoin 

The sudden surge in panic-selling is driving prices of most assets down to levels not traded at since 2016.

Across the stock market, major indexes like the Dow Jones Industrial Average, S&P 500, and Japan’s Nikkei 225 have fallen by a large margin to prices of late 2016.

stock market dow jones sp500 nikkei

In the typically stable precious metals market, silver fell to levels dating back to the last recession, and platinum fell to the lowest price in decades.

silver platinum precious metals

Gold, meanwhile, has remained relatively strong proving its value as a safe haven asset.

Bitcoin Holds Strong, While Other Assets Collapse to 2016 Prices

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.

Bitcoin often called the digital counterpart to gold, shares many similarities with the precious metal, such as a limited supply.

It’s 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.

bitcoin price chart

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 has thus far held strong above its 2018 “bottom” at $3,200.

https://twitter.com/loganhan_/status/1240312959772979200?s=21

The asset is still trading well above the 2018 close and 2019 yearly open, and inflation hasn’t even begun to take shape in the current recession that’s only just getting underway.

Related Reading | Will Bitcoin’s True Value Proposition Shine During End of Times Scenario? 

Governments are preparing much-needed stimulus packages and corporate bailouts that will devalue fiat currencies, potentially allowing Bitcoin’s true value proposition to shine through.

The fact that Bitcoin is holding this strong, gives the cryptocurrency more validity as a potential safe-haven asset, and a possible light in the coming darkness.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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