There's always some fake news that is coming out and most of us believes to that news and most people influence that news so that most of us making panic selling that's why bitcoin price is dropping.
The number of unprofessional investors is too great. Lead to the (sell off) a lot. They participate as gamblers and want to get rich quick. Accompanying these are the bad guys taking advantage of the market to do something illegal. This leads to a large number of people who do not like the market. Supply and demand are not balanced.