For those who were watching their bitcoin and cryptocurrency portfolios drop significantly yesterday probably wondered what caused such a downward spiral then sudden rise of nearly $8,000 in less than a 24 hour time period.

This is the reason why I believe caused it to come out of the ashes of misery yesterday:
Meta Advised to Bet on Bitcoin for Inflation Hedge - a proposal has been presented to Meta’s board. It suggests the company allocate a portion of its $72 billion in liquid assets into Bitcoin.

That is a massive amount of funds to be piling into bitcoin. So just the news of the board of even discussing about moving this much into bitcoin most definitely would put a jump into the step of the entire bitcoin market.

Here is the article complete article:

https://www.altcoinbuzz.io/cryptocurrency-news/meta-advised-to-bet-on-bitcoin-for-inflation-hedge