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Though I don't really know much in details about crypto but I believe the demand also plays an important role as well. When there is high demand for a particular commodity the price usually goes up
The issue of demand and supply is a factor that makes the price s of cryptocurency to change,but in addition to that,sometimes the presence of a whale investor,that is someone that big in his industryan actually influence the prices of a coin.I think the fluctuation in crypto currency is caused by the forces of demand and supply and that is why you see that the price rises and falls at same time , so if the price increases to a very large percentage it could fall due to the excess supply instead of demand and vice versa
One of the things that makes the fluctuation of cryptocurency to be unstable is the the issue of demand and supply,Though there other factors that can affect the price of cryptocurency as well,like the involvement of a whale investor and some market trend.I'm yet to understand this. I have noticed the rise and fall of crypto currencies almost every day and I began to think about the contributing factors to the rise and fall of cryoto currencies. Kindly share with me, the possible reasons behind this.