Factors Impacting Bitcoin Price Fluctuation

影響比特幣價格波動的因素

Numerous events significantly influence the cryptocurrency market, including Bitcoin. Its value has remained highly unstable throughout 2024. Understanding the factors that determine these price changes is crucial.

許多事件對包括比特幣在內的加密貨幣市場產生了重大影響。整個 2024 年其價值仍然高度不穩定。

Key Market Indicators

主要市場指標

According to Vladyslav Udianskyi, an expert from the European Association of Software Engineering, several indicators influence Bitcoin's price:

歐洲軟體工程協會專家 Vladyslav Udianskyi 表示，有幾個指標影響比特幣的價格：

• Market Sentiment: News and events can sway investor confidence, affecting supply and demand ratios and, consequently, Bitcoin's price.
• Regulatory Initiatives: Government interventions and regulatory updates, such as the Chinese government's ban on crypto transactions in 2021, can lead to price declines.
• Macroeconomic Factors: Changes in interest rates or inflation significantly impact the market. For instance, a rise in inflation from 1.6% to 3% in the US in 2021 coincided with a sharp drop in Bitcoin's price.
• Technical Factors: Events like Bitcoin halving, where the rate of creating new bitcoins reduces, affect its value. However, it can also increase transaction confirmation and fees, potentially leading to a price drop due to reduced demand.
• Manipulation and Fraud: Studies have shown evidence of manipulation in the Bitcoin market, such as the use of Tether to buy Bitcoin at strategically important times, artificially inflating its price.
• Political and Economic Changes in the US: The American market heavily influences Bitcoin's price due to its reliance on the US dollar, significant investor base, and major financial markets.

Factors Affecting Bitcoin's Lower Price Limit

市場情緒：新聞和事件可能動搖投資者的信心，影響供需比率，進而影響比特幣的價格。 。例如，2021 年美國通膨率從 1.6% 上升至 3%，同時比特幣價格大幅下跌。然而，它也會增加交易確認和費用，可能會因需求減少而導致價格下跌。價格。

• Halving: A decrease in the supply of new bitcoins can lead to a price increase.
• Mining Costs: The cost of mining sets a practical minimum, as prices falling below this point make mining unprofitable.
• Historical Lows: Bitcoin often finds support at historical low levels, preventing further declines.
• Technological and Regulatory Progress: These factors can also impact the lowest possible cost.

According to JPMorgan analysts, $26,500 was the midpoint of the bitcoin production cost range in April, projected to double to $53,000 after halving. However, the actual effect of halving on Bitcoin's price remains uncertain.

減半：新比特幣供應量的減少可能導致價格上漲。在歷史低點找到支撐技術和監管進展：這些因素也會影響盡可能低的成本。美元。然而，減半對比特幣價格的實際影響仍不確定。

Impact of Other Assets on Bitcoin

其他資產對比特幣的影響

Falling prices of other major tokens, such as Ethereum and Solana, can affect the Bitcoin market. However, Bitcoin generally exhibits greater stability and less vulnerability compared to other cryptocurrencies due to its market dominance and SEC recognition as a non-security.

其他主要代幣（例如以太坊和 Solana）的價格下跌可能會影響比特幣市場。然而，由於其市場主導地位和 SEC 認可為非證券，與其他加密貨幣相比，比特幣通常表現出更高的穩定性和更少的脆弱性。