It’s simple, market supply and demand – this factor is major. Nowadays, Bitcoin has no physical equivalent in the real world, so BTCs are sold in marketplaces. The principle of economics says that if people buy a currency, its price goes up, and if people sell that currency, its price goes down. Bitcoin is no exception. Other factors explain the price of bitcoin news the total number of bitcoins and bitcoin holders it is written in its code. Currently, there are approximately 18 million BTCs, there is an average of 380,000 transactions per day, $ 4 million traded per day, and more than 21 million people have portfolios with BTC. This number is increasing rapidly, and since the number of bitcoin is fixed, the price should continue to increase if demand continues to increase.

Technical issues – 

Bitcoin has open-source code, so anyone can review it, download it, and copy it. New updates to fix some bugs and weaknesses in the code can spur price growth. Meanwhile, marketplaces can also be hacked, which has happened many times in the past.

Political and economic proceedings in the region of the world – 

In the era of globalization, decisions made in one country can affect the whole world. There is no shortage of examples: in fact, bitcoin news fell on Thursday, December 28, by 13%, after Seoul announced that it would better manage virtual and decentralized currencies. In Israel, the regulator plans to ask for a stock market ban on cryptocurrency companies. In Europe, Germany and France want a legal framework to regulate cryptocurrencies.