According to the Reuters, China is successfully fighting Coronavirus and they reported that more people are cured from the virus than died.
It is safe to say now that coronavirus was behind the markets crash, stock, oil as well as Bitcoin.
So how does this affect the markets?
If it's to be trusted, China says the pandemic should end around June:
https://www.reuters.com/article/us-health-coronavirus/trump-stops-europe-flights-china-says-coronavirus-could-end-by-june-idUSKBN20Z0DYUntil then, you can count on prices dropping. When you look back at it, prices started dropping around the same time coronavirus was introduced by the media and fear started spreading.
If we are to expect the fear continues into June, prices should keep falling until June.
Be patient until June and then buy.
It is unlikely that the fear of people associated with the spread of coronavirus is the reason for the fall in the price of bitcoin and other cryptocurrencies. Governments began to take tough measures to localize its distribution, this sharply violated the plans and routines of people. They needed extra money to protect against this virus. If there was no free cash, they started selling cryptocurrency. Now, the price of bitcoin over the past few days is relatively stable. This is proof that this was not a panic, but forced unforeseen expenses of people. The spread of coronavirus will decline and the price of bitcoin will go up.