I have been thinking of the possible reasons of the bitcoin falling down. Since I am not an expert on the Currency I cannot predict or give any reason. That is why I want to know the reasons. Please if anyone can tell me I will appreciate. Thanks.
Let’s keep it very much simple mate.
Bitcoin is a digital asset. If you don’t think so then for a certain time consider it as an asset.
Now there are already a fixed amount of Bitcoins developed or made and no more can be made.
So when the demand is more and the supply is fixed or you can say less, then the price of a that specific product increases. Same happens with Bitcoins also.
When the demand is more, supply less then price of the coin rises.
In the other hand, when the demand is less and people start’s selling Bitcoins, then the price gets down.
Hope I made you understand a little bit about the price fluctuations OP.