How Can Coronavirus Affect Bitcoin Value?

This is an answer I gave to this question on Quora, dated early February 2020, the clue to the pandemic.

"It is pure speculation.

However, as it is expanding visibly if it does not stop we could see half the world in quarantine.

In a state of global emergency, three things could happen:

1. businesses would close and people would self-quarantine
2. fiat coins would lose value with respect to many things, especially goods of primary and secondary necessity (= they will increase in price)
3. banks with excessive demand for cash out will not have the funds to handle all this outgoing money and therefore would limit withdrawals. In such an almost apocalyptic scenario, but apocalyptic it is not, given that the death rate does not exceed 12%, I am sure that the banks will not be able to handle the situation and the people, unlike in 2008 or other previous crises where the BTC there was not or was not enough information about it, he could understand the true value of owning your own bargaining chip and not lent and controlled by the government. Global acceptance would come as a result and fiat currencies could easily be ousted.
   However, I hope that the coronavirus settles down and stops a bit and that Bitcoin reaches the masses through a much longer process which in my opinion will be completed with 1 or 2 generational changes."

I do not place this answer to you to boast of having understood the trend of the pandemic, but more than anything else to make you reflect on the fact that:

-1 we have been inattentive with the virus, we could have avoided getting where we are
-2 understanding that bitcoin was going up wasn't that hard, with the fed printing billions
-3 Bill Gates was right about the pandemic problem, and I think he is also right about his latest predictions: there will be other waves of the virus much more devastating, there will be a much more acute global crisis than what can happen now because of unpaid mortgages.

To conclude

What have I learned from all this? I have been a strong supporter of cryptocurrencies since 2017 now, although I have lost over 20K there, in the last year I have reinvested another 10K (I had over 5 BTC in total) and you know what happened? I had to withdraw for real-life expenses, and why did this happen? Because I made the mistake of investing completely in BTC, not diversifying and not dividing the investment into two: an investment fund and a savings fund, which in times like the past would have avoided going to divest and having lost the opportunity to recover all the lost money and earn it. I hope this poss can make you think!