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 trade 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.
The price of Bitcoin is determined by
the last transaction done on a particular exchange.
When buying pressure rises, the price goes up,
and when selling pressure increases, it goes down.
There are several significant variables that can cause
the price to increase or decrease, such as: Price discovery defines the mechanism by which buyers and sellers meet to reach agreement on the price at which they will trade on a crypto exchange.
Buyers want their Bitcoin to cost as little as possible. Sellers want Bitcoin to be exchanged for as much as they can. Before any trade can occur, both must agree on a certain price.
The current price of Bitcoin, on any exchange, is simply the latest price a buyer and seller have agreed to, as I have described before.