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?
Neither El Salvador nor China caused the price change in my opinion, the price was at $30K at that time then Elon Musk added bitcoin into his Bio and also said Tesla accept bitcoin as payment mode which agitated the investors and the price rose upto $60K but again Elon Musk said bitcoin is eating more electricity so they are not going to accept for tesla payment caused the price drop then it went to $30K again.