The last price drop of the Bitcoin price is very reasonable. As many people have said that it's because of coronavirus pandemic.
The thing is we don't know until when this pandemic will last and the more it takes time, the more people will cash out their assets because they will need more cash.
And what I can conclude so far is people who are struggling with having cash currently will lose their opportunity if the bitcoin price will increase after this pandemic is over because they won't have much money to buyback bitcoin.
So I think it's still not good if you invest your money in Bitcoin even more than 20% right now. Don't gamble on this unclear situation yet and buy Bitcoin when the situation (coronavirus pandemic) is clearly getting better.
But this is pure based on fundamental analysis, not technical.
Bitcoin has proven to be more stable than many stock market assets. At all times, in difficult economic situations, during crises, people have invested money in eternal values - gold, diamonds. Now such values include the oil. But oil prices are falling as the industry falls. The main advantage of gold and diamonds is that they take up little space, they are easy to store and transfer, gold and diamonds are hard to mine, and their mining costs a lot of money. Bitcoin also has all the qualities of gold and diamonds. It is hard to mine, easy to store and Bitcoin mining costs a lot of money, and the number of Bitcoins issued thanks the halving that will happen in May will only decrease. I think that Bitcoin is a reliable asset that will only grow in value in future.