Somewhere within last year, Bitcoin could rise as high up to almost $19,000 and this massive rise stirred up the interest and enthusiasm of investors. Few weeks later, Bitcoin began to experience gradual drop in price and now struggling to regain the position of the almost $19,000.
The question is: What is causing the drop in BTC? is Bitcoin ever going to regain that position and even beyond again? and if yes, when?(prediction)
The cost of bitcoin to reach $ 19k is just the promotion of bitcoin to the world. According to my speculation, many bitcoin holders did that. They deliberately raise the price of bitcoin so people think about bitcoin. They will think this is a potential market and many people will join in to make more profit from easy investment. But there are very few successful people in the trading business.
The price of bitcoin will return to $ 20k by the end of 2018. I just predict and have no accurate evidence.