I will like to know the reason why after bitcoin reached the maximum value this month it has been decreasing on a daily basis just at the time i wanted to invest the uptrend just changed suddenly. is there any hope of further increasing as some has speculated that it will reach $5000 by the end of this year?
The force of demand and supply most time affect the upward and downward movement of the value of bitcoin and other crypto currency. And at the same time, fundamental issues also affect the price fluctuation of bitcoin which is exactly what had happen to the value of bitcoin in September as a result of the ban on ICO by the China government.
In the fact, after the Chinese government banned the ICO market, the price of Bitcoin did not change much, it only dropped down from $4,400 but still keep higher than $4,000 in that time. But after the Chinese government have an anouncement they will close some cryptocurrency market, this FUD made the price of Bitcoin dumped below $3,000.