What Affects the Bitcoin Price? Bitcoin is a decentralized digital currency that has gained immense popularity since its inception in 2009. Since then, its value has fluctuated significantly, making it an attractive investment for some and a volatile asset for others. Many factors influence the price of Bitcoin, and understanding them is crucial for anyone looking to invest in this cryptocurrency. Supply and Demand One of the primary factors that affect the price of Bitcoin is the law of supply and demand. Like any other asset, the more people want to buy Bitcoin, the higher its price will go. Similarly, if people start selling off their Bitcoin, the price will decrease. Moreover, the supply of Bitcoin is limited to 21…