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.
There is one thing I know that affect the price of Bitcoin and even altcoins. That is the supply and demand factor. The more the supply there is the lower the price it can be and vice versa. So for investors who think for a long term investment, holding your coins is a good idea because it can help lessen the supply of cryptocurrency which can affect the price hike of it.