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1. Supply and Demand: Bitcoin has a limited supply of 21 million coins, with over 90% already mined. The rate of new Bitcoin creation is halved approximately every four years, an event known as “halving,” which can lead to price increases due to reduced supply1.
2. Market Demand: Increased interest from retail and institutional investors, driven by media coverage and endorsements from influential figures, can boost demand and drive up prices1.
3. Media and News: Positive news can lead to price spikes, while negative news can cause panic selling and price drops2.
4. Regulatory Changes: Government regulations and legal status of Bitcoin in different countries can significantly impact its price. For example, bans or restrictions can lead to price declines, while acceptance and favorable regulations can boost prices2.
5. Speculation: Bitcoin’s price is highly volatile, and speculation by traders can lead to significant price swings. This is often fueled by media attention and market sentiment2.
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