The trade war IMO might be one such acceptable reason for the rise in bitcoin prices. But on the whole, the trade war has fueled the investors to transfer their investment to Gold primarily and the buying spree which is being followed by the Central Banks rise the demand for gold even higher.

Another primary reason for the rise in prices could be due to the Libra announcement which came from Facebook, positive news on the launch of BAKKT and along with that the announcement of a new Chinese Government backed Digital Currency. This currently pushed the investors to sell off their shitcoins and reinvest their money in BTC which certainly paved the way for the sudden price hike and the dominance. Newbie investors who have been in the crypto space for more than a year started realizing the true potential of BTC and made them to crash the Alt market altogether.