Bitcoin's price is subject to the market forces of supply and demand, making it highly volatile due to uncertainties about its future value.

The concept of supply and demand dictates that the price tends to drop when there are more sellers than buyers and rises conversely.

Unlike traditional fiat currencies such as the US dollar, the British pound, the euro, and the Japanese yen, which are issued by governmental or legal entities, Bitcoin operates differently.

It is a cryptocurrency that relies on a decentralised network of users along with cryptographic protocols for its creation, storage, and transactions.

This underlying system distinguishes Bitcoin from conventional money, highlighting its unique position in the financial landscape.