I believe that the question you are asking is that why is the dollar value of bitcoin falling??
well there are many factor that could make the bitcoin price to keep falling,bitcoin is currently at 6,490$ as i type this.....
In my own opinion the major factors that affect the price of bitcoin and make the price to fall is the psychology of the bitcoin market and what i mean by the psychology of the market is the way traders are behaving on the market,if traders are selling more bitcoins and buying less then that will reduce the demands on the market and make the supply to become higher than the demands and on the cryptocurrency market when the demands are low and the supply is high then it would make the bitcoin price to fall,,
same way that if traders are buying more bitcoins and selling less then that would also reduce the supply on the market and make the demands to be higher than the supply thereby making the bitcoin price to rise higher...
Though there are some certain news on the market that could make people on the market to react in a particular manner,for example if some traders hear that bitcoin is banned in a particular country it makes such trader to continue to invest on bitcoin so some of them sell their bitcoins thereby negatively affecting the demands on the bitcoin market
so the bottomline is that the bitcoin price has fell to that low level because there are low demands of bitcoin on the market thereby making its price to fall,if the demands keep decreasing then that would make the bitcoin price to keep falling....
Bitcoin is down because the initial infatuation with cryptocurrencies is over. Yes there will still be a gradual influx of people joining the crypto market but the intial wave is over.
Big money (banks and major investors) have already bought into crypto. This has both supported the market and tempered it somewhat. The honeymoon is over and now investors are looking for long term value.
Unfortunately Bitcoin serves no purpose other than the store of value. So people are waking up to that fact. Smart investors are looking for real world use value: how can something that doesn't have a physical form be of value? This is where coins that serve a function come into play.
Steem is one of those coins. Ripple is another. There are others but until the general population becomes aware of the fact that use = value, Bitcoin will continue to lead the market. Don't get me wrong, the shift is already happening. That is why Bitcoin is weak. But a day is coming soon when Bitcoin disappears by the next morning - like the biggest log in the 🔥.
Crypto currencies are highly unpredictable.
These are mainly based on the speculations and trend change very sharp.
Same has happened again, some news/ speculations have spread and all the investors got panic and started selling their holdings.
A crypto market is not regulated by some regularity authority so there is no one to safeguard the interest of small investors.
As some large selling and buying is observed or some news is broke, crypto market reacts very fast.
In situation like this one should remain calm a should not take decision in haste.
I also prefer that one should invest in this market should have the holding power and so that in such situation one can hold his/her investment. and if possible can also buy on the lower side to make better average.