2020 has been a unique and interesting time for all markets, and especially for Bitcoin and cryptocurrencies. The reason is very simple: This is the first time that cryptos have been subjected to such extreme market conditions. The current crisis has put many myths and assertions to the test, the most important one being that digital currencies are safe-haven assets that share features with gold.
The cryptocurrency market is characterized by high volatility that results in booms and busts. Since the introduction of cryptocurrencies, we have seen plenty of swings. The first of these booms was witnessed when Bitcoin rose from as low as $0.003 in 2009 to about $150 by 2013.