I think it has something to do with supply and demand, people sell for profit and people are buying for future profit, the law of buying low and selling high applies to this right now there are much selling at a low price.
What are your opinions about this?
There are a number of reasons why a cryptocurrency’s price may rise.
Firstly, there’s the fact of simple supply and demand. A good analogy is that of gold. In the case of fiat currency (money), more money can always be printed, or created on computers. However, in this case of gold, there is a somewhat static nature to the amount of gold available in the world. This is very similar to bitcoin, which has a finite number of blocks to be mined. Thus, as more people begin to understand bitcoin and cryptos, they want to buy into this pool of finite resources, driving the price up.
Reasons why people want to buy into cryptos is the answer to another question, perhaps; but in short it had a lot to do with skepticism of the global banking system following financial crises, however now it has a lot more to do with intrigue, and greed - with many hoping to cash in on future surges in this highly volatile market.