Coronavirus 'Black Thursday'

As stocks, gold, bonds, and virtually every asset were sold off simultaneously, Bitcoin plunged roughly 37–40% on March 12 alone, and including the following day's low, the two-day cumulative decline approached 50% (from the $8,000s to the $3,800s). However, after the Federal Reserve announced unlimited quantitative easing, the 'inflation hedge' narrative gained traction and a V-shaped recovery began, with the price rebounding to $29,000 by year-end.