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which is totally a wrong presumption or something that you would rely on.Bitcoin didnt lose its value, everything can happen with fiat but it doesnt really correlate nor connect itself with it.
It can stand alone with its own without being influenced on whats currently happening on the economy today and thats the beauty of bitcoin itself or to the entire crypto market.
We can presume but we cant pinpoint that it is exactly the thing that do happen.
Volatility is normal in the financial system. Price volatility is influenced by many factors, especially those concerning the world economy. Bitcoin, as one of the strongest investment products, during a pandemic, all investment products including oil also decline, and bitcoin can go up before the others. Until now, there have been various increases and decreases, so I am a little confused, which does the OP mean by stagnation? for stable-coins, which are dollar-based, it may be that it follows the dollar's declining movement, but BTC is not completely affected.