Was that Only a Dip?

While being concerned by a "local" topic which I try to avoid for my own well-being, the crypto world has suffered quite a serious dip this week.

I admit I haven't been following the crypto news at all to see if there is any event that could influence this selloff.

And to me it seems too accentuated to be put on the back of marking profits. Maybe that was the case at the top, when it started to go down.

But this looks like a pullback that is in sync with stock markets, and most likely generated by this corona virus.

While the virus may or may not kill as many people as others did in recent years, from what I've seen it is very contagious. And its biggest effect will most likely be on world and local economies, because of the quarantines and voluntary isolation, not on the lives taken.

Bitcoin has been look at as an alternative to gold, but it doesn't seem to act as a preserver of value in harsh times. Its price is still driven by quick gains, and it will continue to do so as long as it will have a high volatility.

Bitcoin halvening is coming up in May and it was considered as an event which will bring up the entire crypto market, bitcoin in particular. And it has, up to the dipping point.

Do you think corona virus effects will interfere with this outcome? Personally I have no idea, that's why I'm asking.