The currencies of the world are affected by many different parameters such as politics, economy, wars. The value of the money also shows up and down according to these parameters.
What are the parameters that affect bitcoin?
Same parameters. Because bitcoin is just another money but not bind one particular country. So, bitcoin get affected by policies of each and every country which are directly or indirectly influencing bitcoins. Similarly all economic events are affecting bitcoin price levels.
The only big difference is a fiat is majorly getting affected by one country and bitcoin is influenced by almost all countries of this world.