Covid-19 is exacting a terrible toll on both human lives and economic activity. At some point, the situation will start turning around and right around that time risk assets will become appealing to buy again.
How can we tell roughly when that is? One way to approach this analysis is to monitor the chart of Daily Worldwide Deaths at look at the rate of increase. As the the rate of increase of new deaths slows down or falls, at that point bitcoin, equities, real estate and other risky assets will possibly start rallying again, or start bottoming out. This isn't investment advice, merely an observation of which data to look at in order to understand that the severe steps we are talking to curtail the virus are bearing real fruit.
Data comes from https://ourworldindata.org/coronavirus-source-data