There are a lot of different factors that can affect the price of Bitcoin. Unlike most altcoins, its price movements do not depend as heavily on the rest of the crypto market and usually ends up being the one to set the trend. However, BTC is still responsive to the
general factors that affect all markets like rising interest rates or huge crypto news, especially ones that either concern the industry as a whole or other big coins like Ethereum or Shiba Inu.
Bitcoin’s price also gets affected by non-crypto news — a great example of that would be its price action in the spring of 2020. That’s why you should keep an eye on stock forecasts if you want to have a better understanding of the current Bitcoin price. Another news sector that those who invested in Bitcoin or are planning to do so should look out for is ecology.
Just like any other asset, Bitcoin gets affected by news related to it, be it about Bitcoin itself, crypto exchanges, or blockchain technology. Crypto prices usually go up when there is a piece of news related to mass adoption, new technological breakthroughs, and so on. On the other hand, any uncertainty can cause its value to plummet.
