Let's take a look,why Bitcoin's price is declining. Now there is Bitcoin's price $6686.55 USD in Bittrex. It’s circulating supply is 21 million. Bitcoin was popular in the past, now its popularity is not the same.
Why is BTC falling?
Various reasons for the massive drop in BTC’s value this year. There are the issues of weak global regulations of crypto markets, causing a loss for about 30% of the coins traded on the exchange. People just do not trade on Bitcoin now, There are now a lot of coin coming in the cryptocurrency market. Which is a reference to decreasing the cost of Bitcoin.
See the chart below how many times the price of Bitcoin decreased. So far, it seems that Bitcoin's prices will fall further.
source - coinmarketcap.com and Bittrex
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