Market volatility: Market volatility has a significant impact on the global adoption of bitcoin. Unprepared investors who enter the market without prior knowledge of market volatility end up giving up and exiting, labeling bitcoin a bad investment. Many people have been discouraged from adopting it as a result of these factors.

Scam Projects (altcoins): Too many scam projects that enter the market to defraud people out of their savings have contributed to bitcoin's low global adoption. When people hear about crypto currency projects scamming people, they generalize it, and it affects the adoption of bitcoin because of the bad name attributed to it if generalised as a 'cryptocurrency scam project' by people.

Government Regulations: Bitcoin adoption has been influenced by government policy, which is a centralized system of saving money. The government imposed strict policies that discourage citizens from investing in bitcoin. Many people have shied away from it because some countries have already designated cryptocurrency as non-legal tender, and anyone involved in it will face legal consequences.