After the best week since 1974, US stocks fell on Monday, with the Dow closing 1.4% down and the S&P 500 down 1%. Bitcoin fell 4.5% in tandem and it’s currently trading at just under $10,800, which is 5.8% down on a week ago.
Everything else was in the red: Ethereum (-6.4%), XRP (-3.75%), Bitcoin Cash (-11.3%), Bitcoin SV (-0.75%), Litecoin (-7.6%), EOS (-9.4%) and Stellar (-2.1%).
With the correlation to stocks appearing to hold, it’ll be interesting to see what happens as quarterly earnings reports are released from today.
Quantum Economics founder Mati Greenspan predicts the earnings season will be “probably the worst in history”.
Top Ten coins outperform stocks in 2020
Redditor Joe-M-4 Gold has been conducting his popular ‘Top Ten Cryptos’ experiment for three years now. On January 1, 2020, he bought $100 in each of the top ten cryptocurrencies and his just released March report found his overall investment was still up 7% for the year. By contrast the S&P 500 was down 23%. The top ten coins he bought in January 2018 fared badly and are down 87%, but his 2019 basket is currently up 6.5%.
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