But Bitcoin collapsed by 15% after the virus outbreak, thereby defying people’s expectations.
And the stock markets collapsed by 35%, even after interest rates were slashed twice and the biggest QE package in history.
People would surely look for reputable coins like Bitcoin,ethereum and other on top ranking coins since they are already in the real world application for digital payments.
Whoever said that top ranking coins were reputable? Half the coins in the top ten on coinmarketcap are outright scams.
how about Tether?
I wouldn't call Tether a safe haven by a long shot. First of all, it is pegged to USD, which is being rapidly devalued as the Fed print trillions more dollars over the coming weeks. Secondly, it isn't fully backed up, and the proportion of it that is backed up is backed up with a variety of uncertain assets, include loan payments from Bitfinex to Tether for a $700 billion loan they made to themselves to cover their insolvency.