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 ?
There's a lot of cuases why the value of bitcoin nowadays always drastic change. But on my view the common reason that can cause drastic change in the market is " whales and fuds " which is they can manipulate the growth rate of the market in easy way. Especially fuds that always intimidate holders to panic sell when there's a fluctuation. that's why the valued nowadays always dump after the bullish.