Here is my opinion:
- Nowadays, many people are less interested in bank products.
- Many noobs entering the Cryptocurrencies market, and they only know Bitcoin, not altcoin.
- Venture capital also entering Cryptocurrencies and want to avoid tax.
The first one for me is the greatest reason, especially in the Philippines. Just last week, there a news come out because of a research that most of the Filipinos don't prefer to save money in the bank but rather save by them selves. But because of cryptocurrency there's a higher possibility for their money to earn because of it's volatility. It's just about the right timing of investment.