we see bitcoin today experiencing high fluctuations below and will always drops, probably going back to the point of $ 4500. but if I look with bitcoin stock today which a little again $ 3.5 million , then this condition is not normal. because it should be when bitcoin is scarce, then price and value will quickly rise and higher. but today why down? do we have to wait 1 million bitcoins?
The "scarcity" of Bitcoin tells its limit in number. Just as real Gold, the limited number of Bitcoin in circulation creates a value for Bitcoin thus making a difference in other resources like air, food, which are renewable.
The price of Bitcoin depends much on the market demand, the exchange on which it is traded on and sometimes competition with other cryptocurrencies.