Is the Coronavirus The Black Swan Event That Crushes Cryptocurrency?

Cryptocurrency, like Bitcoin, is an extremely new technology and financial asset, that hasn’t truly yet become widely adopted or proven its use case. The disruptive new fintech has incredible potential that could revolutionize the future of finance, but only if a black swan event doesn’t come along and send it to an early grave.

But that black swan event may be here in the form of the coronavirus. It’s already causing traditional markets to collapse, and the high-risk cryptocurrency asset class may be next to experience a panic-induced selloff of cataclysmic proportions.

The Coronavirus Has All the Signs of a Black Swan Event

Bitcoin and the technology powering cryptocurrency assets was born from the last major economic recession.

Newspaper headlines referencing the bank bailouts during this time are even referenced in Bitcoin’s earliest blocks.

Recession-proofing Bitcoin was among the creator’s key design attributes, and include a hard-coded, digital scarcity, and a