There are few things to understand regarding the BTC before jumping into conclusions and handicapping it's movements up and down. And it is very important all here understand the situation.
In order to really understand what is there to understand - here few cold facts:
Key factors
1. There are only 21 million bitcoins that can be mined in total.
2. Once bitcoin miners have unlocked all the bitcoins, the planet's supply will essentially be tapped out.
3. Currently, around 18.5 million bitcoin have been mined; this leaves less than three million that have yet to be introduced into circulation.
4. Once all Bitcoin has been mined the miners will still be incentivized to process transactions with fees.
5. How Many Bitcoins Are Mined Everyday? 144 blocks per day are mined on average, and there are 6.25 bitcoins per block. 144 x 6.25 is 900, so that's the average amount of new bitcoins mined per day. So, in about 7 years and 7 months from now - the BTC mining will be over and the price will be higher than ever. However, because of a complicated reward system for those who are mining may lead to few halving occurrences that will cause the mining process to last till 2040.
6. How many bitcoins are in actual use or possession after we deduct those lost in old PC's or forgotten they exist or their passwords to unlock them are gone never to be back? No one knows the exact figure but it is estimated at 4 million. That means that in reality there are only 14.5 BTC in existence right now.
7. Are they all in the market? No. About 40 percent of bitcoin is held by perhaps 1,000 users that are usually in no need to sell or buy as they are pretty comfortable with what they have and all they have to worry is only how to keep them safe. The real example of that was when one of them moved his bitcoins to a trading place without really trading but for safekeeping and that move caused a temporary downfall of the price as some were convinced he is about to dump them (sell them). So, we are left with 8.7 million bitcoins altogether in the market.
So, any movements we see in the prices are usually the result of one of the two: either some financial news are moving them based on what we call a fundamental analysis, or, someone is manipulating the prices by moving bitcoins. Since there is an understanding that some of those 1000 users who own 40 percent of all bitcoins - are in contact with each other and can coordinate some moves. It is not illegal to share the information as it already has been looked at by the courts all over the globe.
So, the only real concussion HODOR. Hold on to it as long as you can and buy whenever and whatever you can. By doing so you will ensure that by the time BTC is mined no more - you will have a chunk of something that can only grow in price.