Here is a timely article by Anca F (April25th  - https://coindoo.com/category/events/)  whic takes a close look ate the performance of Butcoin  sine the begining of the year. The seems to be a lot of uncertainty in the market place at present. Some of which is clearly caused by Covid19 but other factors such as the drop in oil price are also sighted as possible cause for the decline in the proce of Bitcoin. The author of "Rich Dad,Poor Dad", Robert Kiyosaki is asked for his opinion. Here is some of what is said.

"Since the start of 2020, Bitcoin’s performance has not been too high, with the coin experiencing many losses in the past months. Why is Bitcoin dropping? What fueled this downtrend, and are there any chances for Bitcoin to recover, or will it continue to plummet?

Bitcoin, although known for its sharp fluctuations, shocked the markets when in March the price crashed to almost half its value, bringing it down to $5000. This drop was speculated to have happened because of the coronavirus pandemic, which affected all businesses and markets, and thus investors most likely used the cryptocurrency as a source of liquidity.

When a disaster strikes financial markets, investors start liquidating assets out of panic and hold cash, usually the US dollar, which is the global reserve currency.

This is why the US dollar gained nearly 7 percent this month, as pointed out by data offered by the crypto derivatives research firm, Skew.

March was the second straight month in the red for bitcoin, recording losses of nearly 50%, after an 8.5 drop in February. However, the bulls have managed to drive gains of 10 percent in five months during the same period.

Reasons and Recovery Chances

The “Rich Dad, Poor Dad” author cites several reasons which might have caused bitcoin to start its downtrend. One of the mentioned reasons included the oil price crash on Monday, where the price of WTI oil futures for May went negative, but there was soon a recovery. Bitcoin lost 4.4% of its value during that day but also recovered.

On the other hand, Kiyosaki states that the real reason for the fall of BTC is because of the liquidity boost policy that is currently done by the Fed Reserve during the COVID 19 crisis. He suspects that retail investors are spending their money on Bitcoin.

Robert Kiyosaki also stated that Bitcoin, gold, and silver have all been falling in price, as they are bought and sold for “fake USD” by people that have received money from the Fed program.

These speculations are just some of the many that are given as answers to those who are wondering why is Bitcoin dropping.

An anonymous trader who predicted Bitcoin’s $3,000 bottom in December 2018 said that the current performance of BTC can be looked at in charts as an Elliot Wave, a larger triangle, or a “larger flat.”

He speculated that the dwindling volume of Bitcoin combined with stagnant open interest in futures and the abrupt V-shape recovery of the cryptocurrency market show that there is a high chance of BTC dropping in the near-term.

These three indicators show a short-term corrective pattern, as both futures and spot exchange markets have been low on BTC volumes. The recent movement of Bitcoin is similar to the Wyckoff Events and Phases pattern, which during retests showed that a new bottom could form in the $4,000 region.

You can read the full article at: Bitcoin taking a dive but for how long?