Although Halving has come close, it seems that there is no optimistic signal that BTC will rise. Currently Corona Virus is making it difficult for the leading economies in the world. And is that the main cause of Bitcoin price drops? Let me give you some possibilities
1. Unemployed people do not have income so they do not dare to invest in Cryptocurrency.
2. The psychology of fear that if we die by Virus and die, investing in Cryptocurrency will not bring anything when we die
3. In a difficult economy, investors need to withdraw assets and sell cash to maintain businesses such as payroll, purchase and sale of goods instead of investing in cryptocurrencies.
4. The disease has not yet been controlled, the economy has not shown signs of recovery, so investors are afraid of not participating in the Cryptocurrency market.
I mean yeah BTC will be affected due to the global economic state right now but I beg to disagree. In my opinion, this is the perfect time for BTC to rise again. With all the social distancing and lockdowns implemented, being online is what keeps us and the economy going. People are staying and working from home, online shopping (though already popular even before the pandemic) and with this, online currency. So I wouldn't be surprised if BTC booms in the following months.