The simple explanation is, the same thing that happens with the stock market all the time.
A bunch of manipulators are jerking around with supply and demand and public panic to rig the price.
Then they buy and sell at the right time to make lots of corrupt 'profits' at the expense of the public.
If you own it, hold on to it. Don't panic sell. Buy what you can afford and sit on it.
Ignore the day to day fluctuations.