Krutika Adani
Supply and Demand Dynamics: The price of Bitcoin is often driven by shifts in its supply and demand dynamics.
Bitcoin Halving Events: Historical trends surrounding Bitcoin halving events significantly impact its price trajectory due to the reduction in block rewards.
Competition and Market News: News updates and competition from other cryptocurrencies can swiftly impact investor sentiment, thereby triggering fluctuations in the price of Bitcoin.
Cost of Production: The cost of mining Bitcoin directly determines its price floor, as miners may be reluctant to sell below their production costs.
Regulatory Environment: Changes in regulatory policies and governmental stances towards Bitcoin trigger uncertainty in the market, which directly influences its price movements.