I hope by this time, everyone is well conversed with Covid-19 or more commonly known as the Corona Virus... The virus oiginated in China and took the entire world by surprise.. All over the world, stock markets are plunging and people are selling their fiat for gold, real estates and consumable items since it can very well turn into a full blown epidemic much like black death plague, and in such scenario, fiat currency will be absolutely useless.
Where Does Crypto Stand
Short Answer :- Nowhere... its even more volatile than fiat right now and cannot be trusted as something with a stable value to its name. Hence Crypto market is also following the same pattern as Stock market and is currently bleeding.
Is it Market Correction or Corona Virus?
Again, no one knows for sure.. because bear market was already on the horizon by the time stock market started to plunge due to corona fear. Hence currently, market is undergoing massive correction specially for Bitcoin, Bitcoin Cash and Bitcoin SV as they went full parabolic in late january and start of february due to their halvings in May and April respectively.
However, there is quite a chance that crypto market will go face down in coming days (not because of the correction but because of corona virus).
Until then, we will have to wait to see where this goes.
Please do let me know in the comment section that whether you are hodling or selling in these hours of crisis.
Happy Steeming
JBN