Hello guys, In 2017, Bitcoins price soared from 1,000 usd to just under 20,000 usd before dropping down to around 13,000 usd at the end of the year. Since then, its value has risen and dropped sporadically from day to day. now its around 8,300 usd. So what may cause this drastic change of bitcoin value ?
After bitcoin price reach $19k, many negative news about bitcoin start from south korea government ban bitcoin transaction. After that, many false news came out and make bitcoin price drop.
I think the main factor on bitcoin volatility is on market psychology because every false news came out, bitcoin price drop and many holder become panic and selling their bitcoin