Demand of people for the Bitcoin is the major factor responsible for the ups and downs of Bitcoin and we can say that this time the buying rate is low and the demand rate is high. There are some group of a pump and dump that can manipulate the value of bitcoin and the other thing is there are many scammers out there that use bitcoin as their presentation that is why people didn't trust bitcoin. Besides all these things market will soon recover as we know in the past Bitcoin recovered.