Looks to me like the FUD worked.
Using the virus as the reason for the down price of stock market and then connecting it to bitcoin.
What the heck is happening?
Is this dip really from that virus or we are the virus who spread a bad news all over the world specially in social media.
We may be the reason to make it fall down in just a little amount of time.
it is not the virus it is all the other markets that are crashing hard these days, it is causing a lot of panic among newbish weak hands in bitcoin who are panic selling for no reason except reading the bullshit media that is trying to scare them, and they are causing an avalanche effect bringing the price down like this.
otherwise there is absolutely no reason for
bitcoin price to be affected by anything that is going on in the world.
on the contrary the crash in other markets (eg. stocks) makes perfect sense as for example the companies in stock market are currently losing a ton of money because of the virus, for example they say Amazon lost $14 billion last month so that makes perfect sense that Amazon stock went down ~15% over the last month too.
but bitcoin doesn't care about any of that. the network is still the same, miners are the same, merchants are the same, adoption is the same (and increasing),.... if anything digital way of payment should be more attractive these days that everyone is in quarantine!
add to that all the bullish news such as a couple of countries in Europe and elsewhere recognizing bitcoin as a legal currency then you see that non only this drop is not logical but it starts looking like pure manipulation.