How does bitcoin price behave?

Delving into the intricacies of Bitcoin's price behavior is a fascinating yet complex endeavor. Could you elaborate on the key factors that drive its fluctuations? Do market sentiment, supply and demand, or regulatory changes play a significant role? How do traders and investors interpret these dynamics to make informed decisions? Furthermore, how does Bitcoin's price compare to other traditional assets, and does it exhibit similar patterns or unique characteristics? Understanding these nuances is crucial in navigating the volatile world of cryptocurrency investments.