Why are crypto rates rising or falling?

Daily forecasts for the rates of Bitcoin, Cardano, Etherum and Co. are hardly reliable. Anyway, an investment should be well thought out and designed for the long term. Still, there are some obvious factors that affect crypto prices. These include, for example, the investments of large companies or wealthy individuals like Elon Musk, who are often the first step in an upward trend in prices or continue to fuel it. Political action is also crucial. Because many large states are still not sure how to deal with the topic of crypto currencies. For example, if China turns off the power to Bitcoin miners in the Sichuan region or India announces that it will ban Bitcoin, this can have a direct impact on prices. However, these can also be short-term fluctuations that have evened out again within a few weeks