Coronavirus: Impact on Bitcoin and its future

How do you think has the coronavirus outbreak affected Bitcoin?

I think, since the coronavirus outbreak, the correlation between Bitcoin and the equities market has increased. For instance, on the 12th of March, the price of Bitcoin fell below $4,000 after the S&P Index in the USA saw a sharp decrease. The reason for this was because there was a sudden flight to liquidity, and so, a lot of investors had margin calls in Equity that had to be covered by liquidating other assets like Bitcoins into cash - to meet those margin calls elsewhere. Though the price has now recovered to around $7,000, it will probably be a while before Bitcoin prices soar up again. There is a lot of uncertainty in how things will pan out and BTC is no exception. Though the correlation seems to be coming off a little bit between S&P and BTC. The problem is that the 12th March liquidity crunch has spooked some crypto investors and some market makers as seen in data from Bitmex. I predict a gradual rise in prices again, and more so post halving as some miners are capitulated (inefficient miners will have to shut down), but it won’t be much because the global economy itself is in one the worst situations.