A lot of the previous stock market crashed (or significant dips), caused the bitcoin to spike. Now, it goes down just as hard as the regular markets.

Just like in the regular market, explaining and making sense of the market movements based on the past and recent events is absolutely pointless - I could account for a bitcoin spike by correlating it with a dorito's sales spike, and explaining that a lot of pot is bought with a lot of btc, and bot causes a need for doritos (which is definitely a strong case).

There's absolutely no point in trying to back-explain the bitcoin movement in correlation to the Corona Virus. Show me a guy that accurately predicts the price movements, and I'll listen to his explanation.