#HotTrends #ETH #BTC
Factors that affect the $BTC price.
1.Demand and supply: Unlike fiat currencies such as Euro and US Dollar Bitcoin is not defined by single entity like a central bank. The $BTC price is influenced by supply and demand, when there is more demand the price goes up, whenever there is less demand the price goes down.
2.Competition with other cryptocurrencies: as$BTC price and volatility increases the demand for other crypto projects increases.
3.News: cryptocurrencies are mostly affected by the news, positive news gives green signal to enter into the market Where's as negative news impacts adversely
4.Volume: increase in volume suggests more participants are involved, and are trying to make the trend continue
5.Govt regulation and media hype: regulation is among the key factors which affects the Bitcoin price.
