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The bar chart is monthly views and visitors on my blog. The line chart is the price of Bitcoin from Coinbase.com. Positive and negative news affects user interest, engagement, and ultimately the price.

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Mining revenue also follows price.

 

What are the main drivers of the Bitcoin price?

 

  • The Bitcoin Price which increases
  • User Adoption which increases
  • Merchant Adoption which increases
  • Daily Transactions which increases
  • Transaction Volumes which increases
  • Mining Revenue which increases
  • Number of Miners which increases
  • The Hashrate which increases
  • The Difficulty which decreases*
  • Mining Revenue over time which increases
  • Mining Power Demand which increases
  • Investments in Mining Equipment which decreases*
  • The Price of Mining Equipment which increases
  • The number of miners which increases
  • The  global network effect which increases
  • The Bitcoin Price

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