TITLE:
Analysis of Factors Affecting Cryptocurrency
AUTHORS:
Cheng Long, Weiming Gao, Guokai Zeng
KEYWORDS:
Cryptocurrency, Supply and Demand Determinants, Regulations
JOURNAL NAME:
Open Journal of Business and Management,
Vol.13 No.5,
September
26,
2025
ABSTRACT: As a new type of digital assets, cryptocurrencies exhibit pronounced price volatility and heightened risk exposure, exceeding that typically associated with traditional financial instruments. Numerous factors have influence on cryptocurrency price dynamics. Drawing on literature available up to date, this study consolidates and synthesizes the prevailing evidence on the transmission mechanisms underlying cryptocurrency price fluctuations. Based on macro and micro level data, we undertake a systematic empirical analysis on supply and demand determinants. The findings underscore that cryptocurrency valuations are jointly shaped by macroeconomic variables, including miners’ production costs, revenue streams, regulatory and policy announcements, as well as speculative market behavior reflected in institutional capital flows and sentiment signals extracted from social media platforms.