Four factors driving the price of Bitcoin

[shasan]

There are four factors driving the price of Bitcoin they are mentioned below:
1) Animal spirits
2) Political risk
3) Regulatory moves &
4) Bitcoin’s governance
DO you think it is correct? Have you any other idea which effects on Bitcoin price?

[1715335451]

1715335451

[1715335451]

1715335451

[1715335451]

1715335451

[1715335451]

1715335451

[1715335451]

1715335451

[1715335451]

1715335451

[shilpy275]

Thanks for your nice post. It would be more helpful if you elaborate it.

[patrickreiner]

Clearly animal spirits are the most important factor. I base all my purchase decisions on animal spirits.

[odolvlobo]

You neglected the most important factors:

1. Adoption
2. Speculation
3. Utility


BTW, I prefer distilled spirits to animal spirits.

[salamyman]

You neglected the most important factors:

1. Adoption
2. Speculation
3. Utility


BTW, I prefer distilled spirits to animal spirits.

Exactly my thought - wasn't sure if I understood right about the animal spirits. At first, I too, thought about drinks, even if you could take them as the ghosts of pets, but yeah - pretty impressive list you got there, I do admit.

[Ovidijus01]

1) Bitcoin shareholders moves in a market.
2) World countries regulations.
3) FUD in media.
4) Crypto market in general.

[~Bitcoin~]

1) Animal spirits
2) Political risk
3) Regulatory moves &
4) Bitcoin’s governance

5) Merchant acceptance
6) Network congestion
7) Mining cost associated with electricity cost
Unpredictable hacks

There might be more factors than all of this but I think you have covered all major factors in your list, nice list.  

[Patrice_89]

There are hacks going around everywhere right so this together with all the distrust from all the governments have had a negative influence on price. But historicaly the price has always been stagnant around this time of year and we are definetly not out of the bubble yet. There is still some money left on the table

[Welsh]

There are hacks going around everywhere right so this together with all the distrust from all the governments have had a negative influence on price. But historicaly the price has always been stagnant around this time of year and we are definetly not out of the bubble yet. There is still some money left on the table

Hacks and the sort also bring good media coverage even though I don't believe the saying "Any press is good press" I do agree with it partly. In the case of the hacks of websites then I think it's good press. It get's the name of Bitcoin out there and to be frank Bitcoin isn't being hacked which would be bad press. It's the exchanges and services which use them mostly because a lot of start ups are appearing and accepting Bitcoin and they neglect certain security precautions.

[shilpy275]

1) Animal spirits
2) Political risk
3) Regulatory moves &
4) Bitcoin’s governance

5) Merchant acceptance
6) Network congestion
7) Mining cost associated with electricity cost
Unpredictable hacks

There might be more factors than all of this but I think you have covered all major factors in your list, nice list.  

Wow, we are getting more point. I think we will get more point soon.

[PauloLuks]

The media can also influence the bitcoin price significantly. Media hype can lead to an increase in price, while negative news can lead to a decline in price.

[alexn3620]

A lot of things are solved by the fact that they write newspapers, magazines, speak on television, and this is already being bought and very much influences the masses of people.

[cryptolet]

The bitcoin demand and supply, market manipulations, technological changes and innovations and the stablilty of the bitcoin network.

[MMA]

A lot of things are solved by the fact that they write newspapers, magazines, speak on television, and this is already being bought and very much influences the masses of people.

Yes a number of factors are there which can effect the bitcoin price but i think that the main factor is the demand and supply, as much as the demand for bitcoin is increasing, bitcoin price will continue increasing, because with the increase in demand of bitcoin the supply decreases and therefore the price of bitcoin moves up, government regulating bitcoin in their country is also an important factor of increasing the bitcoin price.

[Durr_1412]

There is a lot of factors to affect the price of bitcoin, but for some reason at this moment, government reaction and regulation of strong country is the key.
Adoption would be growing up and utility is on the way of developing.

[Sinecoin]

I think the factors that drive the price of bitcoin are FUD and greed.  lets be honest here, most people who buy bitcoin are not looking to use it as a form of payment, theyr trying to make money.  So when they see their investment plummeting down they begin to panic and start selling off because they think it could be going to zero.  The inverse of this situation is true as well.  FUD also plays a roll in this because it usually initiates the sell off.

[godzillarekt007]

1) Animal spirits
2) Political risk
3) Regulatory moves &
4) Bitcoin’s governance

5) Merchant acceptance
6) Network congestion
7) Mining cost associated with electricity cost
Unpredictable hacks

There might be more factors than all of this but I think you have covered all major factors in your list, nice list.  

Wow, we are getting more point. I think we will get more point soon.

You are right, although not all are true factors.

9)Security of POW
10)CryptoCelebs
11)TwitterOGs
12)John McAfee

[SixOfFive]

1) Animal spirits
2) Political risk
3) Regulatory moves &
4) Bitcoin’s governance

5) Merchant acceptance
6) Network congestion
7) Mining cost associated with electricity cost
Unpredictable hacks

There might be more factors than all of this but I think you have covered all major factors in your list, nice list.  

Wow, we are getting more point. I think we will get more point soon.

You are right, although not all are true factors.

9)Security of POW
10)CryptoCelebs
11)TwitterOGs
12)John McAfee

Hahah...John McAfee. Good one. It seems like John McAfee is the Warren Buffett of Crypto-world. His opinion has really impacted the market in last few days. But I don't think he has the real capability to drive crypo market.

[bitcoinvestor]

What do you mean animal spirit? Animal like eating and sex. Do bitcoiners like both only? I don;t really understand with animal spirit. Human spirit is better than animal spirit.

[SixOfFive]

There are four factors driving the price of Bitcoin they are mentioned below:
1) Animal spirits
2) Political risk
3) Regulatory moves &
4) Bitcoin’s governance
DO you think it is correct? Have you any other idea which effects on Bitcoin price?

Trend and growth rate has attracted new users to invest in Bitcoin. Past performance of Bitcoin is term of growth can't be compared to any other financial tool. Many Middle class People who invested in Bitcoin are now Millionaires. Their success story has motivated others also to invest and HODL bitcoin.