Why BTC will comes down so much?

[Lanirex]

Bitcoin and also the other great ALT coins will comes down so much and so many peoples will loss their money in the crypto market. Is there any news which will effect on the market.

Factors to decrease the price of Bitcoin are a lot, one of them is indeed the bad news about Cryptocurrency and Bitcoin.  And for now, the decline in the price of bitcoin is due to the global economic downturn.  But did you know that the price of Bitcoin has gone up again today?

[Master107]

Not really sure about the reasons. But most people stated that it is the impact of coronavirus. Honestly, I doubt it, coronavirus shouldn't bring too severe dump. Is this a drama of some people who take advantage of the corona outbreak. 

Both are possible.
If we look closely the scenario we can say it is not scripted or just a drama. Lives is involved and there are huge affected by the virus and I think some of them are cryptocurrency lover. The impact is slowly becoming harder for us. Still I don't know what is really happening beyond my understanding with regards to virus and cryptocurrency.
The important now is be safe and do not panic.

[Nestle]

The virus problem is not over yet and many people are panicking seeing the market making people more secure of their money and waiting at lower prices to buy back

[Senin]

The world markets are crashing,crypto assets are no different.

However, if there is also a global economic crisis, traditional markets will fall even more, and the cryptocurrency market is likely to even grow in value. Now the situation is a little different. People needed money to prepare for quarantine under the coronavirus, and many invested free funds in cryptocurrency. Cryptocurrency began to be sold on exchanges and therefore its price fell. If it were possible to directly buy goods and services for cryptocurrency, then there would not be such a drop in its price.
With the onset of the economic crisis, cryptocurrency should grow in value, since it will be a good way to fight inflation.

[tervel]

The unexpected decline in the price of oil further imposed additional pressure on global markets.The confidence of investors across the world in just about every asset seems to have dropped, which makes Bitcoin all the more valuable in the long term.

[mlawson71]

I hope you are right because I fear that if the current crisis deepens Bitcoin won't come out of it unscathed.

[Jaguar]

Basically the demands affect bitcoin price. More demands the higher value lesser demand the lower the value. At this scenario where the world attack by virus, people interest is not in bitcoin but in prevention to virus.

[mlawson71]

That's the gist of it. Once the crisis is over, interest in Bitcoin will return.