Yes, the pandemic posed to be a huge threat to not only the cryptocurrency market but also to the traditional market at large. you can see its effect on oil and some other indices. let's hope the pandemic goes down gradually and the market to have its recovery phase
It's not the pandemic that is a threat but the actions of the governments.
The pandemic did not kill staff of all the restaurants in the EU but the governmentas effectively made them all useless, as good as dead, bu shutting down their businesses.
The coins will gain value as people realize that the pandemic isn't as dangerous as described by the media.