Covid19 did indeed trigger the price drop. It wasn't only bitcoin though. Stocks and even gold went down last month.
Strangely, Gold is going for a new ATH now while btc isn't doing that great.
it might take some time to see its effect on bitcoin. Well, many blame the decline that occurred because of COVID-19. but, slowly the price of bitcoin is rising. I think this is the effect of the many people who are starting to get to know Bitcoin.