No one knows but Capitalization of Bitcoin at the moment is extremely high. Bitcoin has undergone 10 crashes in 15 months and price is still $ 7400 as of now and getting more stable with increasing merchant adoption and technology development. A bubble can inflate even more, but in any case, rather, it will collapse in price than it will grow. What could be the reason for this sudden crypto market pumping?
The market seems to be healthy once again as graphs line are turning to green but it might not be right pump but only a pump and dump situation created by whales to get profits.So we have to wait for some time to clearly get the idea of true position. The prices are above $7200 at current so hope its grow fast and we get our expected returns.
There are still many traders is selling their holding with the current price but since the bull market start well the price will be stable around $7k and I think this is a start to see the $10k value again.
The market cap was increasing higher in few hours I was checking the movement just few hours ago and the movement is instant so I think there is a big investors who buy huge amount of bitcoin that is why the price increases.