2020 Macro Overview: Traditional & Digital Asset Market Behavior, Part II

In our previous research piece,‘2020 Macro Overview: Traditional & Digital Asset Market Behavior, Part I,’ we provided evidence of Pre-Covid19 economic deterioration & financial system stress, arguing that the pandemic likely exacerbated a recession that was already on the horizon. Further, we made the case that traditional financial system stress likely contributed to the cryptocurrency market drawdown in Q4 2019.

This piece breaks down the historic decline that traditional and digital asset markets experienced in Q1 2020, as well as the policy response by the Federal Reserve. We also challenge Bitcoin’s “safe-haven” narrative at this moment in time.