I know about the demand and supply and its the reason a marlet gets different price at different price but what make bitcoin users to lead to this pricefall..I mean once there was 1btc = 500$ and after that I herd some hackers have hacked some exchanges and many scammers also poped out during those days..and this all leads to currenct price of 230$ I hope some peoples will do something to avaood these problems as much as we can
I think one thing that is very effective in controlling the market is the media. Once the media starts saying there would be a fall, you see people starts selling their Bitcoin to avoid the loss they will encounter then, and by the time they continue to sell, you see the price going down.
Same thing when happens when the media says there will be a rise, you see that people believes and starts buying immediately. So the media controls the Bitcoin market too.