I noticed that the Corona virus had a very big role in the decline in the prices of digital currencies, especially when the epidemic spread and spread inside China, where prices decreased by a very large amount and reached the price of 4000 dollars and no one expected the price to reach this amount, but after China recovered from this virus Recovered, and rose again until the price touched 9000 dollars, it is very likely that the currencies will fall again if we see a second wave of the epidemic and I hope this will never happen
It seems that you are implying that the price of bitcoin is dependent mostly from th chinese bitcoin hodlers. Though it's not, bitcoin is scattered all over the world and the price varies depending on the demands of the people with it. I do believe that the COVID crisis does affect the price of bitcoin but it is not just China who has the impact to this price change.
Perhaps, people all over the world needed to cash out their funds in order to support their living especially in the fear of goods running out. Hopefully, there's no food outage, there's some random people hoarding and selling goods and services in a higher price.