Top-notch reasons that affect bitcoin's price

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As one of the most high-profile digital currencies in the world, bitcoin is an excellent
decentralized monetary system. Visit a website like Immediate Edge to trade in bitcoin with the
help of advanced AI technology; the platform is suitable for even novice traders. Bitcoin and
other cryptocurrencies are a favorite among those who don’t trust centralized government
control, but the lack of regulation has contributed to price volatility. As governments and others
seek to understand better how to deal with bitcoin, and as the currency’s value grows, here’s a
list of some of the leading players that could influence its price.
1) Average Investors.
Bitcoin’s growth has attracted plenty of investment from consumers and other financial market
participants. Yet many mainstream investors have missed out on bitcoin’s exchange rate
reaching highs of over 65000 USD per coin in November 2023. Though, dozens of new investors
are jumping in each day as they realize the benefits of alternative currencies like bitcoin or
Ripple. These investors are often successfully drawing on their knowledge and experience of
other, more traditional investments. So far, there’s no evidence that any significant bitcoin
investor is linked to terrorism or other illegal activities.
2) Major Financial Players.
Central Banks and financial institutions aren’t just sitting back and watching bitcoin grab the
spotlight, though – they’re playing a significant role in it. Bitcoin has already proven itself as a
viable means of transmitting value across borders, regardless of political upheaval.
While most banks stay clear of trading cryptocurrencies for fear of regulatory intervention,
some are testing out blockchain technology for internal use in financial transactions and
negotiations with clients – outside the purview of central authorities. However, not everyone is
convinced that cryptocurrencies are the way of the future, with some significant banks already
cracking down on customers who use their cards to buy bitcoin.
3) Government Organizations.
Bitcoin’s appeal lies in its ability to provide users with a means of transferring value without
interference from any central authority – but that doesn’t mean it’s letting governments off the
hook just yet. On the contrary, governments and regulatory bodies are still working out how to
deal with bitcoin – and have been for some time.
The UK government has stated its desire for an international approach to regulating
cryptocurrencies such as bitcoin. However, the Chinese government has been known to ban
bitcoin mining, and various other countries are currently considering how to handle
4) Regulators.

The lack of regulation that bitcoin enjoys is a significant draw for many businesses and
consumers alike – but the lack of clear rules on the street can mean that cases of fraud or crime
are harder to track down. Some regulators have called for more regulations around
cryptocurrencies, blaming rapid price rises and subsequent bursts with losses on unregulated
markets surrounding these currencies. When it comes to Bitcoin, there’s no doubt that its
popularity has led to increased interest in the technology behind it – but is this interest here
likely to lead to further restrictions?
5) Major Technology Players.
Bitcoin rivals and their respective cryptocurrencies also play their part in the equation. For
example, Ripple is one of the largest cryptocurrencies but works in the same way as a payment
system as its rivals. However, Ripple’s ability to transmit more value worldwide than Bitcoin
rests on its ability to be integrated into banks and financial institutions rather than overtaking
The Future
1) Governmental agencies.

The lack of any central regulatory body for cryptocurrencies like
bitcoin isn’t likely to change soon, with some countries calling for international regulation – one
of these would likely be China. However, as more and more countries begin to take a stance on
cryptocurrency regulation, such agencies’ role will become increasingly apparent.
2) Greater acceptance.
Bitcoin has been accepted by a growing number of retailers and businesses across the globe,
but its acceptance hasn’t quite hit mainstream levels yet. A growing number of consumers have
begun using bitcoin for regular transactions, but this is still not enough to dispel its negative
connotations. To make inroads into mainstream adoption, bitcoin will need to be accepted by
more retailers, and the general public will have to become far more confident in its security.
3) More powerful hardware.
The popularity of cryptocurrencies means there’s a greater demand for secure and stable
hardware than ever before – and that’s not just led to demand on the consumer side but has
also driven up the demand for mighty computing power behind them. As such,
cryptocurrencies are already being increasingly powered by complex systems that require a
steady electrical energy supply.
To access your funds through banks or institutions, you will need to go through financial
verification, such as providing the type of identification paperwork or other documentation
regarding your address. This verification process is time-consuming, and the value of the asset
you are trying to receive has a chance to be affected, especially in an emergency where your
funds need to be transferred quickly. But, on the other hand, this verification takes away

valuable time that could otherwise be spent trading or conducting business, and bitcoin
resolves it all with perfection.

Joel Picardo

Joel Picardo

Joel Picardo has been in the startup space for the last 5 years and has worked with startups in the cryptocurrency and digital marketing industry. He founded GeekyMint along with his co-founder SafdarAli with a mission to provide well-reseached articles in the cryptocurrency, finance, technology, blockchain, software, and startup sector

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