I have been having nosebleeds frequently lately and sometimes twice in one day. what could this be?

Dryness: Most nosebleeds occur because the lining of the nose is dried out. This can be from taking antihistamines or having very dry air in your house. Use humidifier and try nasal saline spray

Allergies, dry nose: Nose bleeds are common in those in dry climates or with dry noses, or when you have a cold or allergies. Medications like aspirin or fish oil can also provoke these. The dayquil that you are taking helps dry up nasal discharge, but can also cause dry noses. Try a cool mist humidifier, Neil Med Sinus Rinse, nasal saline, Ayr gel, or contact your doctor so that they can take a look.