When I am seeing at a graph of Bitcoin prize I recall one old proverb 'look the star is fallen wish something' and I adjust it. The reason for that decrease is the coronavirus attack with huge government's measures caused enormous economical losses. Why Bitcoin falls? Because closed borders, quarantines, travel restrictions and many other limitations suppress the most important advantage of crypto: fast and easy transfer of money around the world.
Ordinary citizens probably think: Why may I buy or use crypto when I cannot travel anywhere and spent it? And common investor can add to it: What would I do with crypto in case of collapses of internet connection or switch off electricity? Although it not have to be in the whole world, even local misfunctions means that crypto is totally unusable.
But there is still hope, because:
- China says that obsolete version Covid-19 will be soon replaced by new one. Covid-20 and Covid-20 Pro will be released soon.
- While governments are fighting against Covid-19 by quarantine of people, Chuck Norris is prepared for arresting coronavirus itself.
- All of the women are safe. Covid-19 attack mostly 60+ people, so every woman is not older than 30.
Keep calm and enjoy your life
(until coronavirus came to you) :-)