people just panicked and went crazy. if anything it shows the effects of unreasonable fear on the bitcoin price. and it wasn't directly linked to coronavirus but it was liked to everything else being dumped that caused fear in people expecting the same dump in bitcoin so they tried to act faster and caused the crash becasue of that!
as for Store of Value, if you mean bitcoin is a currency and like any other currency such as fiat, it is a store of value too. then i agree.
I know right, although I am kinda thinking that coronavirus kinda affected some hodlers maybe not all of them. Maybe there were whales that panicked ot and caused them to sell a bunch causing this massive dumping that we're currently experiencing. Kinda sad that they brought their emotions to the table, but meh there's nothing we could do about it.
Bitcoin does both. Investment and utility but I believe that more people are into its own value.
Whales deserved that kind of panic because they are taking advantage and abusing the value of bitcoin, they think that bitcoin is juts made for one purpose, to become rich. As they knew that the bitcoin were down, they suddenly sell and it is surely out of there plan and they are probably shocked. It is true that we have nothing to do about this kind of event in crypto, we just need to continue promoting it and patiently wait for its growth again. It is more likely that bitcoin will be more useful during this Covid-19 pandemic because no one is safe to go outside that's why government are implementing community quarantine to slow the rate of infected people than the people recovering from the virus.