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Biggest Crash Since 2020: Stocks Plunge, Bitcoin Stands Strong
The U.S. stock market is experiencing its biggest crash since the start of the COVID-19 pandemic in 2020, with a staggering loss of $3.25 trillion on April 4, surpassing the total value of the whole cryptocurrency market. This unprecedented event has led to widespread concerns about the impact of President Donald Trump’s newly announced tariff policies, which may cause economic instability and a slowdown.
According to reports, Trump’s new order adds a basic 10% tariff on all imported goods and sets matching taxes on countries that charge high taxes on U.S. exports. The administration claims this new policy aims to make things fair and balanced by charging similar import duties. However, experts warn that the move may lead to a recession.
In stark contrast to the stock market’s dismal performance, Bitcoin has shown remarkable resilience in the face of turmoil, strengthening its reputation as a potential hedge against economic problems. Crypto trader Plan Markus took to social media to comment on the situation, stating that even though the entire stock market is plummeting, Bitcoin remains strong and stable.
Even skeptical experts are now taking notice. Dividend Hero, a renowned stock market analyst with over 200,000 followers on X, recently expressed surprise at Bitcoin’s unexpected strength during this financial crisis. Markus noted that while some were initially dismissive of Bitcoin, its performance has piqued their attention.
The cryptocurrency market is witnessing an unusual decoupling from broader markets, with Bitcoin bucking the trend and showing no signs of weakness. The stability of the digital asset is drawing attention to the potential benefits of decentralized finance in a world dealing with trade barriers and unstable monetary systems.
While the U.S. stock market remains sensitive to policy changes, the crypto market appears to be navigating these challenges relatively unscathed – at least for now.
Source: https://bitcoinik.com/biggest-crash-since-2020-stocks-plunge-bitcoin-stands-strong/
