I can talk about a case like if there is good news about cryptocurrency or blockchain, like a big company starting to accept payments in Bitcoin, or a country officially recognizing the use of cryptocurrency, then that could increase the price of Bitcoin. On the other hand, negative news about Bitcoin or the general market such as regulatory woes, or a global pandemic can depress the Bitcoin price.
The price of Bitcoin, and like other cryptocurrencies, is completely dependent on the market and investor sentiment. News and events in the world markets can significantly affect the sentiment of investors with cryptocurrencies, causing a major impact on prices. Therefore, investors and participants in the cryptocurrency market always need to read and understand market news and events in order to make sound investment decisions.
Market sentiment, FUD news and the downside that every event presents is a small part that may not always affect bitcoin specifically, although sometimes it also has something to do with the rise and fall of bitcoin. Let's see when a pandemic occurred and the economic crisis hit so big at that time that it caused any sector to have an impact and the stock market, gold, petroleum and others were no exception. But in the end bitcoin was able to penetrate its highest price resistance point in a state of chaos caused by bad events on the course of the world economy that we have experienced before.
So what can we conclude from that incident and not mean we ignore these factors regarding the opportunities for rising and falling bitcoin prices. But there is always no certainty about that, so there is no need to worry too much about whatever process is going on, what we can do is focus on collecting bitcoins, because at the right time we will get maximum results in investing in bitcoins.