I still maintain my position on that this recent slide in price of Bitcoin is not as a result of the coronavirus outbreak but a simple manipulation by those holding huge sum of Bitcoin. If this information I bumped into is correct then I think there is no need to worry as the market should be on the reverse mood anytime soon. The real reason for the recent deep is allegedly caused by Bitfinex selling off about 21,000 BTC (
https://www.trendsmap.com/twitter/tweet/1237270740149268481). This has let to panic , thus making small others sell at a loss. My advice is to stay still and hold your positions.
Your theory has a right to life, but nevertheless, the strong drop in bitcoin coincided with the collapse of markets around the world after the failure of the negotiations on OPEC +, and even the coronavirus overlapping it. It is possible that investors withdraw assets simply from everything in a row.