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?
You mean the pandemic? It did affect Bitcoin and other cryptocurrencies. I believe you must have noticed how the market was very low at first, even after the halving has taken place. A lot of people never even expected the bull run, because most of them thought that it was something that was going to happen when we start approaching the date for the halving, but it never happened that way, rather the way it happened, it was totally different.
People did sell their coins because of how hard things were during the pandemic, and that was the talk for most people, they just want to sell since they felt it wasn’t moving. But one thing that’s normal with Bitcoin is a rebound. If you ask me whether the pandemic affected Bitcoin? Yes it did.