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.
We can blame Covid-19 for the reason behind price drop among btc as this panademic attack has hit the world maeket and economies are crashing very hard.But still the price drops are not much higher what it can be.The main point is not major investments at this time and panic selling by people to match shortage of funds to do neccessary stuff of lives.But some with future foresight have invested at this time also because people have moved towards digital modes of payments these days which give crypto and btc hope for price surge in future.So dont get panic as everything gonna get fine after all this is over and bull run will hit btc so have patience and just HODL.