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.
It seems that everything is crashing due to the panic (or at least the excuse of the panic) of the corona virus. All assets are down and even gold saw a drop. It seems that people are crazy for the liquidity of cash, and that's all it matters for them (even if it's not that reasonable). I really can't predict what will happen in the next few days/weeks.
Pizza will cost again 10,000 BTC thats what will happen in near time.