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?
Your claims about BTC being heavily affected by the pandemic which causes massive dips on BTC might not be the reason at all but only a fraction of it. Actually, there are no massive dips that happen last year until the recent cases which involve Elon Musk and China's banned on BTC mining. So I don't BTC has fallen due to pandemics. In fact, it even reaches another milestone which is new ATH and it seems pandemic has no direct affect on BTC's market at all