Undoubtedly, the situation that happened today in the world due to the coronavirus pandemic very badly affects all aspects of human life. The economies of the countries have worsened, international trade has practically froze, oil has fallen in price by more than half, and this is only the period when the virus began to spread and its impact on the financial and economic situation. I used to assume that cryptocurrency will interest new users who want to minimize their losses in other markets, but nevertheless, My assumptions were incorrect. but somehow the cryptocurrency market is not in too bad shape, even in spite of the panic mood due to the coronavirus. So far, there are no prerequisites for the further growth of cryptocurrency prices, but analysts suggest that it is halving bitcoin that can positively affect the market as a whole.
You said it well, people will choose crypto to minimize their loses as the stocks which was suppose to be more stable are heavily affected by this pandemic. If you have invested in crypto since the start and you hold until now, you don't lose significant amount compared to what the investors on stocks have lose.
There's an incoming halving, so hopefully it will lighten up the market a bit, we can't expect that to happen but let's stay optimistic.