Bitcoin is going through a remarkably bad day. It turns out all assets are having a rough month including cryptocurrencies. A couple of hours ago, the average price of BTC dropped by 15% in just 20 minutes.
Mainstream technology news outlet Techcrunch is also now reporting on bitcoin's crash. The news are mainstream and yet there seem to be no signs of recovery. From the time of the article's publication, prices crashed even further. Is there any saving for bitcoin's price levels?
https://techcrunch.com/2020/03/12/bitcoin-is-also-having-a-very-very-bad-day/As practice has shown, bitcoin in those days fell in price mainly because people did not have enough cash to prepare for quarantine during the spread of coronavirus, and bitcoin was not so liquid that they could directly pay for goods. The offer for sale increased sharply and the price of bitcoin went down sharply. However, since then, bitcoin has been gradually recovering in price and has already risen by almost two thousand dollars. It seems that everything will depend on whether people have enough free money to survive the still ongoing quarantine.