Every week! Other cryptocurrencies will soon follow, crossing their previous all time highs. Michael is a cryptocurrency and Forex trader who also takes a big interest in the blockchain technology and decentralized applications. Over the years, the price of Bitcoin has been affected by a number of determinants with the major known factors being government control, anticipation of future increase or decrease in price due to an impending event, demand, and supply which is mostly affected by some of the determinants, and media speculation. The current block reward is only This is due to the mining difficulty increasing as more miners join the network.