Can anyone explain that how the prices of bitcoin goes up and falls down? Any verified Reasons? How and what is the procedure other then academic economics?
Price speculation. The factors of demand and supply determines the price. Look up order books on various exchanges, when a bid or ask order is filled the price on that exchange adjusts to the most recent amount, reason why prices vary on different exchanges.
Also explain that if we ary buying it through money and exchange it through money and save that money in our bank accounts, then how we cay say that it is not monitorised by banks?
What do you mean by 'monitorized'?
You can buy Bitcoin using fiat, altcoins, gold or any other thing of value, properties and luxury items have been sold for Bitcoin, it's also being used as payment for service rendered.
And there is no middle man in between and it is peer to peer currency?
The objective of a P2P network is the absence of a third party or middle man.