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?
hello sir, yes right now everyone really needs money with the current situation or rather the covid 19 virus which hampers the activities and finances of the country, there is a lot of speculation that destroys bitcoin so bitcoin falls because there are a lot of FUD and many people panic to sell it, indeed state finances are currently weak but not with bitcoin, bitcoin will only weaken when many FUD threatens