Bitcoin's Rollercoaster Ride: What's Really Moving the Price?

Bitcoin has been on a wild ride, with prices swinging up and down like a rollercoaster. From late 2022 to 2024, the market saw some crazy ups and downs. To make sense of this chaos, a deep dive into the data was done. Over 590 days of information were looked at, and all the numbers were checked to make sure they were stable before crunching them. Some things, like the total value of all bitcoins and the price of gold, didn't seem to make much difference. But other factors, like the money miners make and the computing power used to mine bitcoin, had a big impact. Surprisingly, the S&P 500, which tracks big company stocks, also played a role. This shows that bitcoin isn't just some weird internet money—it's connected to the bigger world of finance.The study suggests that bitcoin can be a good way to store value and invest. But it also points out that mining needs to be done in a way that's good for the planet. Rules and policies need to balance making money with being kind to the environment. So, if you're thinking about putting money into bitcoin, it's not just about the tech—it's about the bigger picture too.