The crypto world is such an unpredictable world. Most times I sit down to imagine how the markets are decided. At one point, you will see a particular coin price going up, and at some point, the price will fall drastically. I have been wondering for several days as what could have been the reason for the unusual changes but I'm yet to find out. If anyone knows, please kindly relate as I'm new in the crypto world.
I really appreciate all the comments here. So far, I have outline the reasons behind the fluctuations in coin prices.
1. Demand and supply
2. News
3. Influence
Thanks for helping me out. I intend conducting further research on this
Add in hype and development teams. Some teams have influential members who name recognition alone drives the price of a coin (EOS). Having people that have already proven themselves in another coin is a big factor when determining scale and cost of ICO tokens