Bitcoin is Down
As you can remember when the virus spread at the beginning BTC price sharply reaching $9,439 on January 28, 2019, and the markets follow the BTC as always many crypto markets rose up, that means coronavirus favor CryptoMarkets first,
But what makes Bitcoin price go down
As the spread continue people start to panic with the disease not Btc, thinking of many Negatives and some people exchange their Crypto to friendly fiat money so they can cover some emergency staff buys extra food, drinks, masks, etc, the simple view is that many sell result to cheapest sell which automatic kill the prices of an Assets.
Yeah it happened really fast because at the time of the crash there are many countries who impose a total lockdown in their area and this might be the reason why the market crashes pretty bad. Preparing for the total lockdown is kind difficult if you have no enough savings that is why other investors were forced to sell their assets in order to prepare for the lockdown.
Foods and medical equipments are what we need to this pandemic in order to stay out from the virus and also a good knowledge on how to stay away from it. But right now the market is slowly recovering and let's just hope that this pandemic will be finish so we can see a better future of crypto by this year 2020.