According to this page
https://hackernoon.com/factors-influencing-bitcoin-price-cfabdf634894 that some factors that can affect bitcoin price is if the demand is high and the supply does not meet the demand, this causes a spike in the Bitcoin rate. Bitcoin prices fluctuate whenever there is an official statement regarding digital currency regulation. And whenever a government imposes a ban or restriction on the Bitcoin use, there is a drastic change in the price. And also the News related to hacking the exchanges or bankruptcy can create bear rumours among users causing the price to plunge. News about the currency being used for selling drugs, laundering money, and other illegal activities can also impact the value of Bitcoins.