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I would like to know your opinion on what factors cause the value of Bitcoin to drop. A brief explanation helps.

Bitcoin price drops because of the investors who sell their bitcoin because they see in a good profit of the current value.They noticed that this is a good time for selling this is the reason why bitcoin price decreasing.

From my observation is that, Some negative news that affects people that is why those people want to withdraw their money from this platform. like in recent time, China government wanted to regulate the ICO then most of the Chinese people have left their Bitcoin so that the price of Bitcoin went down. I believe that only negative news and uncertainty are the main reason for dropping the price.

Yes there can be so many reasons which can effect the price of bitcoin and can drop. I think the main reason can be that bad news that usually spread in the market which make the investors a little worry and they try to take a safe decision. But i think the correction is also a reason which cause the price to dump but this kind of dump is temporary and very soon the price of bitcoin recover its position. I think in in near future we are not expecting any correction therefore the price of bitcoin is expecting to increase.

Indeed! I was once guilty of reacting to some bad news about bitcoin and sell my coins for a very low price and I see to it that it will never happen again to me. I will just hold until the price of bitcoin will reach at least $8000 each. That is now my parameter before I sell my present and future coins accumulated.

As bitcoin is an speculative asset lot of things will affect the price increase as well decrease. Rumors too will make impact upon bitcoin's growth, so predicting the market is simply a hard thing to achieve. As the above mate mentioned, at time common users react and tend to sell. Here patience and the trust should not decrease at any instance.