No one can predict the future, but increasing global debt, slow economic growth and expanding central bank balance sheets have the potential to weaken the dollar and investors seek safe areas in assets like gold and Bitcoin.
The factors like global debt and a slow economic growth and on top of that the pandemic has put a lot of strain to the economy and you can be attributed that the rise in the price of
BTCitcoin and other cryptocurrency market is due to these factors and no one can have a different debate as there is no concrete evidence on why all of a sudden huge investors are investing heavily in the market. You cannot call the cryptocurrency market a safe heaven and it is yet to prove that the market will sustain this growth if there is a global economic meltdown but these huge investors know that the market usually rises after every halving and they might be taking advantage of that common factor.