The price of Bitcoin can be attributed to several things happening at the moment. Take the war between Ukraine and Russia which has led to highly fluctuating market trends globally. In addition, the bull run seems to be over so market is currently having a general correction as expected. Hopefully we can bounce back pretty hard after June.
that's the major event that we are seeing right now as a contributor on what's happening in the market. but there are actually other factors that are influencing this movement. the growing adoption of users and merchants is also one. how about countries that are going positive towards crypto? so what am saying here is that we can't really attribute the market performance in only one event or factor here, as you mentioned also, it is combination of several events and we can't quantify the degree of their contribution to this market.
Yes, in fact the world event that is taking place for now between Russia and Ukraine is what they call in the books as a "Fundamental" and it is a double-edged sword, because if the war escalates it will start and investors will panic and something that I have always known is that in every speculative market when fundamentals occur, emotions are activated and emotions are the reason why speculative markets move, emotions and whales responding to the Law of Supply and Demand, in I am not operating in my case because I am not sure what could happen, so it is a total risk for me, I prefer to be in Hodl mode.