I am starting to loose hope in Bitcoin. Like really i need to cash out and for me its on its lowest...

The reason why the market is volatile is because of the prices that is always depending on supply and demand, this is the reason why bitcoins price sometimes is dropping.
Yes it is the law of supply and and demand that drives the price of bitcoin. Whenever there are negative news about bitcoin, most likely price will drop maybe because people will sell their bitcoin thus increasing the supply.