Advantages are obvious! Will the 24/7 Bitcoin market become the only active market in the coming weeks?

With many stock markets around the world likely to be closed in the coming weeks due to the COVID-19 pandemic, Bitcoin and the entire cryptocurrency market could be the last one standing.

Image source: Tuchong

The cryptocurrency market never stops. If you are a cryptocurrency trader, this is a unique feature of cryptocurrency that sets it apart from any other financial market. It also means that cryptocurrency can survive any downtime caused by the coronavirus and may even be one of the few financial markets that is still trading in the coming weeks.

Will traditional financial markets shut down?

News outlets around the world have been reporting that stock market shutdowns may be under discussion. The New York Stock Exchange already plans to close its trading floor and move to all-electronic trading next week for the first time in history. The Chicago Mercantile Exchange has previously announced that it will close its trading floor. Other countries have been considering the proposal. However, doing so is risky. In the Philippines, for example, the closure of the national stock exchange led to a 24% drop in the stock market last Thursday. Sri Lanka's main stock exchange, the Colombo Stock Exchange, will be closed on March 23-24 due to a curfew.

The situation could worsen further if global stock markets continue to fall and trading floors become too risky.

However, this scenario would also be amazing. There has never been a mass closure of stock exchanges around the world. This scenario would effectively keep the cryptocurrency-only market solid, which will never go away.

24/7 cryptocurrency market

The cryptocurrency market can never shut down, which means it could be one of the few active markets for a few weeks. Just a month ago, this idea seemed unthinkable.

But now, as countries take extreme measures to shut down various markets, it doesn’t seem so far-fetched. Amid the global market frenzy, only a few sectors are showing strength. As losses continue to mount and the coronavirus pandemic intensifies, calls to shut down financial markets seem to be growing louder.

Such an event would also fully demonstrate the strength of the cryptocurrency market. However, whether the exchange will be able to gain attention remains to be seen. For now, this is just speculation, and we will have to see how the situation with the coronavirus pandemic develops in the coming weeks.