Hi guys I am a newbie and tell me please that why the price of bitcoin goes to decrease? please tell me the main reason because I like this coin and when it's price goes to decrease I am very worried.
Don't worry!
This is my version of how it works after being here for > 4 years
Crazy people enter with crazy money.
Big whales artificially push down the price.
People get worried and sell with a loss.
... and now what will probably happen ...
Price will increase.
Few who stayed think they are winners and buy more.
Whales push down price to even lower low.
Even more people will now sell with a loss.
Price will stay low for a longer period aswell.
People think Bitcoin cannot recovers....
Most people cannot sustain the lower prices because they need the money.
The price recovers and gets ready for the next leg upwards.