Bitcoin is very volatile. It goes up and down at no time. But I started to think what causes its values to go down. These past few days, its prices are notably lower that last year's values. Last year, I believe, during the first few months, its prices are likewise low. Do bitcoin prices go down every January to February? Does it have a logical association?
here's some factors that triggers bitcoin price.
1. if BTC splits into multiple currencies, there is the potential for one or both chains to lose a significant amount of value.
2. if there is some security issue that comes to light about BTC that compromises the integrity of the ledger, that would most certainly cause a crash.
3. panic selling
4. fake new also affect the emotions of traders and lead them to sell their bitcoin.