1. Government Regulation
Each time a government releases official statements about the regulation of digital currencies, the price of bitcoin is normally affected.

2. Media Influence
The media can also influence the bitcoin price significantly. Media hype can easily lead to an increase in the price

3. Stability of the Bitcoin Network
Stability of the bitcoin network is a major factor that most bitcoin enthusiasts are concerned about.

4. The Bitcoin Demand and Supply
The price of bitcoins is largely depended on the demand and supply.

5. Wider Mainstream Acceptance
This is another major factor that influences the price of this crypto-currency significantly.

6. Large Businesses Dumping to Fiat Currency
Given that bitcoins are not widely accepted as a means of transactions or payment, not many people and institutions can accept them.

7. Market Manipulation
This is another major factor that can influence the bitcoin price.