Hey guys, i need some suggestions and opinions about this.
The factors that affect the price of bitcoin is the consumer itself. They try to sell their bitcoin in lower price that's why the value of bitcoin is going down. It is all about the supply and demand of a specific consumer.
That is one minor factor among so many factors. The basic factors that affect the price of Bitcoin is the government intervention that affect the demand for Bitcoin in a given country like south Asian and the Middle Eastern countries. This fall in the demand for Bitcoin leads to a drop in the overall price level. Besides, the Whales also intervene and make the market chaotic by reducing the price which often leads to the panic selling which further lowers the prices.