The first quarter of 2020 will be kept in mind as a period when the coronavirus-led uncertainty set off a liquidity crisis in financial markets, forcing investors to sell whatever, consisting of bitcoin (BTC).
The leading cryptocurrency, typically touted as a safe house, fell by 10 percent in the very first 3 months of 2020.
While the cryptocurrency eked out 30 percent gains in January in the middle of the U.S.-Iran stress, it might not stand up to the bearish pressures originating from the international dash for money in March.
The more comprehensive crypto market also suffered losses in the first quarter, as evidenced by the 5 percent decline in the overall market capitalization, according to TradingView.
However, a couple of cryptocurrencies including the personal privacy coin dash and link, the native token of decentralized oracle network Chainlink, managed to put in a positive efficiency. Even the most actively traded cryptocurrencies have actually thin volumes compared to conventional properties like stocks and bonds, so ascribing market movements to principles remains a challenging workout in this young, speculative market. However, advancements such as proof of real-world adoption or brand-new service partnerships might have contributed to these coins' gains.
The following are significant winners and losers of the first quarter among 19 significant assets included in the forthcoming CoinDesk Quarterly Review. The list is curated to omit cryptocurrencies with less than 12 months of trading history, and everyday trading volume of less than $5 million. The list does not include stable coins. CoinDesk Research will release the Q1 edition of the Review this month.