In addition to the fact that some countries set Bitcoin as legal tender, it will cause Bitcoin to rise, and some countries prohibit Except for some countries setting Bitcoin as legal tender, it will cause Bitcoin to rise. For example, El Salvador made Bitcoin a legal tender on June 9, but Bitcoin rose by about $2,000. Some countries prohibit participation, which can also cause Bitcoin to plummet. For example, after China's ban on mining, China's global computing power fell from 65% to 50%, and Bitcoin fell to $31,333.
What other factors will cause Bitcoin to skyrocket?
Skyrocketing and plummeting have always been the trend for Bitcoin and other cryptocurrencies, though other Alts usually mirror Bitcoins price action most of the time, and the News (FUD) that caused all this dips are more recent and like those, there has always been some sort of FUD that keeps making Bitcoin price to dip and rise plus the intentional manipulation of the market by those that can (whales) so that they could accumulate more at a lower price.