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.
How sure are you that it was the Corona Virus that Influenced the initial hype. People are really in need of finances so they couldn't just run into their crypto account for rescue. So much sudden and wasteful sell will be made at this time. I guess after this period price Should be better. Now many will understand that not all sell is panic selling but due to urgent call to meet up with certain needs