The impact of expected and unexpected factors on the price of Bitcoin

Abstract

The influencing factors of Bitcoin price have been an important research direction in academia.In this paper, we categorize the influencing factors of bitcoin price into expected and unanticipated categories, and we choose inflation, a common macroeconomic indicator, as an indicator of expected factors, and the new coronavirus pandemic and the Russian-Ukrainian conflict as indicators of unanticipated factors.The paper analyzes the economics of the impact of these familiar indicators or events on the price of bitcoin, and concludes that inflation has an inverse relationship with the price of bitcoin, that the Covid-19 pandemic affected the price of bitcoin through indirect factors such as panic, and that the Russian-Ukrainian conflict affected the price of bitcoin by triggering the energy crisis in Europe.