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.
Over 60% of Americans are no longer earning anything at all, and most have no savings that will last over a month.
Rents / Mortgages / Credit Card Payments / Utilities / Food requirements still have to be paid, and no fiat money coming in at all.
Add this up world wide and it is apparent even the most zealous bitcoin fanatic hodler will prefer selling his bitcoin instead of him and his family starving to death or being kicked out on the street in the next 30 days.
So the price of bitcoin is headed down.