Despite the Historical Decline in the U.S. Stock Exchange, Crypto Money Market Stays Maintained

The Dow Jones Industrial Index fell below the 20,000 level for the first time after a three-year period. Despite this decline, the crypto money market remained stable and remained stable regardless of the previous two weeks.

Professor veteran names in the world of finance in Turkey Dr. Özür Demirtaş drew attention with the tweets of the situation in the US stock exchanges:

The circuit breaker just started. In the USA, stock markets stopped trading for 15 minutes. Unfortunately ! https://t.co/r2wnsc3a7d

– Özgür Demirtaş (@ProfDemirtas) March 18, 2020

Stocks began to recover after US President Donald Trump announced that he had instructed the $ 1 trillion incentive plan to fight the new coronavirus. In the announced plan, it is planned to postpone some tax payments and give $ 1000 cash aid to each household in the USA.

Upon announcement of the incentive package, optimism in the markets was short and after the US Treasury Secretary Steven Mnuchin warned the senators that the unemployment could rise to 20 percent in the USA if the package did not pass.

While this was the case in the US stock exchanges, the crypto market remained stable. Bitcoin (BTC), which was traded at $ 5,207 at the time of writing, fell 1.09 percent compared to yesterday, while Ethereum (ETH) fell 1.57 percent compared to yesterday and trades at $ 113. This is almost the case for the rest of the cryptocurrency market.