Did the coronavirus outbreak trigger another recession and what does it mean for Bitcoin? Stock market crash explained by BTCMEX.
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The economic forecast points to the major economic storm which can only be compared to the Great Depression.
The stock market crash has already begun! This kind of movement was last seen during the Great Depression. There were only 65 occasions in history when Dow recorded the daily loss that exceeds three standard deviations over the average daily return. The market is reported to be “much worse than in 2008”. Read more about the last economic recession on BTCMEX.
The closest comparison to the current market behavior was in 1933 when the US abandoned the gold standard in the middle of the Great Depression. Even when the Depression ended the stock market was in a free fall. Back then the dollar was devalued against gold. According to the analysts, this is what recovered the market after the Great Depression.
Read the full article on BTCMEX.
Please note, that the article is a part of BTCMEX Blog, the views and opinions expressed here are the contributing author’s only, and do not necessarily represent the views of the company.
Julia Bulakh for BTCMEX