This week, bitcoin's price gets low. Based on the article that i read, it says thats they cant trace the reason why its getting low. They said it might be because some used to hack and mine bitcoins. They also said that maybe it was because there are new cryptos.
What do you think is the main reason? Do you think its price will still rise?
There are no special reasons behind the price drop. Price is created by the mechanism of supply & demand. After last December when the "bubble" burst, many lost their money and also the faith in cryptocurrencies. The current price of 8.000 for one bitcoin just means that current demand for Bitcoin is very low.
Yes many of people lose their profit when its price drop but some are waiting for its rising price because they know it will again high and this time profit will also double, but it doesn't matter that bitcoin price is low because sometime its price is up and down so don't be panic, it will more high and the profit will more huge.