Another big thing that influence the Bitcoin price are the endless number of created altcoins. Instead of keeping BTC. People are buying alts using BTC. As the result BTC was dumped. I wish all exchange sites would create USD pair for each new altcoins.
What are the factor to consider that would affect the price changes or price elasticity of the Bitcoin? This is what I have read:
1. Bitcoin supply and increasing/decreasing demand
2. Bitcoin in news: Influence of media on garnering negative and positive publicity
3.Bitcoin users and developers influence the rise and fall of price.
4.New technological changes to Bitcoin
For discussion for the above mentioned. You can check this link:
https://hackernoon.com/factors-influencing-bitcoin-price-cfabdf634894How about you? can you add more factor that can affect the price of the bitcoin? Comment below.