In the global recession, nothing is safe. When economic activity is at its lowest point, people are in desperate need of money. In this state, it is not surprising that the price of Bitcoin has fallen.
In fact, if there is Bitcoin, many people will sell it. This is to be expected. Bitcoin's value will inevitably fall like stocks. Bitcoin's market is not absolutely independent of what is happening in the world. This is obvious.
But Bitcoin will not go bankrupt, it will not happen. The company may go bankrupt, and even the country may fall into a debt crisis. But Bitcoin will not reach that state. Bitcoin will eventually rebound
why?
Personally, I think that Coronavirus has affected the Bitcoin and crypto markets, but in the opposite direction from the one you mention - namely the price of BTC has risen due to the pandemic.
In such pandemics, people are looking to invest in something that is not depreciating or there is no inflation, mainly gold. But last year we saw a serious institutional interest in Bitcoin and the crypto world precisely because of the Coronavirus situation.
This, in my opinion, was the initial push of the record we saw a month ago.