New Coronavirus Effect: Loss of the World’s Richest Doubles the Crypto Money Market!

While the new coronavirus (kovid-19) epidemic deeply affected the global markets with the fear and panic it caused, the crypto money market also got its share from the virus. On the other hand, it is estimated that global markets are more affected by the crypto market and at least $ 15 trillion is steam due to the virus.

According to the influential name of the cryptocurrency community, Anthony Pompliano, the world’s 500 richest people suffered a total of $ 330 billion in losses due to coronavirus. Starting from this, Pompliano pointed out that the world’s 500 richest people lose much more money than the entire crypto market value.

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The total value of the crypto market, which was around $ 250 billion in the first week of March, was $ 149.2 billion at the time of writing. As Pompliano pointed out, it would have been impossible for the market to survive if the fire in the global markets had occurred in the cryptocurrency market. Taking this situation into account, Pompliano says the crypto market is a useful alternative to global markets.

While the crypto money market has managed to recover partially after the collapse, the situation in the global exchanges is a little different. Although the Central Banks, especially the US Central Bank (Fed), are doing their best by making preventive interventions, especially printing money to extinguish the fire in the markets, it is estimated that the downward trend in the global markets has just begun.