The impact of the Coronavirus epidemic means that many companies & individuals can see that they’re going to have a short term cash squeeze this year - they hav

The impact of the Coronavirus epidemic means that many companies & individuals can see that they’re going to have a short term cash squeeze this year - they have interest payments due & the income to pay it isn’t going to be there. So they’re selling anything that can be sold to raise the cash to make those interest payments - in a strongly deflationary environment you’d expect $/£/€ to rise against everything, including gold and bitcoin, which is exactly what’s happening.