Why is the price of Bitcoin rising — some reasons

The price of Bitcoin is currently hovering around US$116,000. 

1. Fixed Supply / Scarcity
   The maximum creation limit of Bitcoin is 21 million; and a large part of what has been created is already in circulation. That is, the gradual decrease in the number of new coins = pressure on the price to increase.
2. Institutional Demand and Entry of Large Investors
   Large institutions, investment funds or ETFs (Exchange Traded Funds) are increasing their investment in Bitcoin. When such investment increases, confidence in the market increases, and the price goes up.
3. Positive Economic/Political Environment
   For example, when interest rates are falling, inflation is rising, or there is uncertainty in the economy, people usually look for a “safe haven”. Many see crypto, especially Bitcoin, as an alternative.
4. Technical Analysis and Price Formation (Technical Resistance/Support)
   There are many “resistance levels” or “support levels” in the market — for example, when a price is crossed, people believe that more buyers will be attracted. Bitcoin has recently tried to break through resistance at ~US$ 112,000–115,000, and has been under pressure to increase its price for some time.
5. Good news and media sentiment
   When a country enacts crypto-friendly legislation, a major company buys Bitcoin, or a Bitcoin project makes progress — these news increase market optimism and attract new investment.
6. Inflation and dollar weakness
   When inflation increases in the global market or the US dollar weakens, many people start to see crypto as an alternative asset. This increases people's interest in Bitcoin.