Many government has said it will tighten virtual currency management, causing Bitcoin prices to fall below 9,000$.
Bitcoin prices traded on Coinmarketcap at 8:40 am on Feb. 2 were around 8,779.76$, losing more than 14 percent of yesterday's value.
Compared to the peak set in December 2017, Bitcoin lost more than 60% of its value.

Yes, that would be the reason why bitcoin price dropped. Many government now trying to regulate crypto has created fears to people that resulted in panic selling. News through the media is just powerful that if affected the price of bitcoin.