Factors Affecting the Price of Bitcoin:

Supply and Demand: As in any market, the price is primarily determined by the balance between supply and demand. With the upcoming "halving" process that reduces the Bitcoin mining reward by half, the supply is slowly increasing, which may lead to increased pressure on the price.

Global Monetary Policies: Central bank decisions regarding interest rates and inflation significantly affect risk assets like Bitcoin.

Regulatory Developments: Government regulations, whether positive (such as the adoption of Bitcoin as a financial instrument) or negative (such as imposing restrictions or bans), can impact investor confidence in the market.

New Technologies and Innovations: Developments in blockchain technologies and innovations in the decentralized finance (DeFi) space affect the value and use of Bitcoin.