Economic conditions are going to be choppy during the pandemic dislocation, and this, to put it mildly, has also been felt in the Bitcoin market. The price dropped by about 32% on March 13 to $3 915, its weakest in a year. But it recovered most of the gains over the day. The virus has played havoc with world markets, which shows that Bitcoin is not the safe haven some may have thought in gentler times.

A Bloomberg story quotes Stephen Innes, chief Asia market strategist at financial services firm Axicorp, as saying: “What do you want, cash or Bitcoin? Obviously I want cash.”