Uncharted territory for crypto as US stocks go bearish on pandemic news

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On March 11, the World Health Organization (WHO) declared Coronavirus pandemic which has greatly affected the bearish trend on US stock. On 11 March, the WHO announced a coronavirus pandemic, which had a major impact on the US stock bearish trend.

The longest US bull market turns 11yrs on Monday

The longest bull market in American history turns 11 years old on Monday. The bull demand confronts its serious fears as investors barely commemorate the widespread of Coronavirus that jeopardizes the world economy.

The fear of coronavirus had transformed the US stock market into Erik misery over the last couple of weeks. 

Over the last couple of weeks, coronavirus fears have transformed a once-booming stock market into a nightmare. As the S&P 500 fell 12% over the preliminary12 trading days. 

And if this deterioration continues, with the S&P plummeting to 20% below its records, then the bull trend that started in March 2009 will officially be over. 

The rise of the crypto economy has occurred simultaneously with historical productivity, risk-on US stock market, as growing members of widespread investors have adjusted to cryptocurrencies.

What if the US stock enters into a bear market?

If the US stock enters into a bear market, that will be an unmapped macro habit for the newbie in the crypto world, nevertheless, the coronavirus outbreak has led to the brink of bear market limit which is a global concern.

US top indexes – the Dow Jones Industrial Average (DJIA), the S&P 500 (SPX), and the Nasdaq Composite(NASDAQ) – rallied after the President (USA) administration committed an economy solace package for firms affected by coronavirus after encountering vast selloffs on the 9th of March.

There are repercussions of more mainstream investors delving into crypto. During widespread risk-off environments, the digital assets experience sell-offs just like stock do. If an investor will stay in cryptocurrency, they’ll like to go to large assets like Bitcoin, and Ethereum just to be on the safe side.

Featured image by pixabay

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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