what affects the price

[wilbur]

bitcoin slowly went down this year, from almost 20k USD last December and went down at a significant price

what might be the reason why bitcoin's price is going down?

[wilbur]

so in short, government? 

the government indeed . how bout false news?

[wry]

The short and core reason of course is supply and demand.  Back in December Bitcoin was exciting and the answer to the question of "How can I make a lot of money quickly?" was Buy Bitcoin!  Of course, now three months later, we've had a grinding decline and that is no longer the answer to that question.  The huge numbers of Bitcoin haters are feeling very pleased with themselves about now.

Governments have a big effect on the ability to exchange bitcoin for their respective currencies, but I hope what we're seeing is just a natural part of the process of Bitcoin adoption slowly growing.  It has to have some broad legitimacy and governments are the path to that.  I sort of wish it wasn't that way, after all I'm a bitcoin believer, but there you are.

So unless there is something to pump demand, supply will continue to build from mining rewards and speculators giving up and we'll see this ongoing "melt down" in price.

[MiracleRolling]

Have a lot of bad news for crypto world, especially about some financial foundations or country get banned trading crypto coins, after that, a lot of social media block crypto ads.

[btcstar31]

The price of the Bitcoin is determined by demand and supply.

When the demand for Bitcoin Increases the price Increases & when the demand falls the price falls ,

Only limited number of Bitcoins are being Circulated,

Only limited few New Bitcoins are Created,

But Bitcoin is volatile and it can be controlled only if large scale Economy is developed,