What precipitated the recent Crypto market surge?

Different theories explaining the price surge in the premier digital coin

It was almost certain that with the recent sharp uptick in the market price of Cryptos there would be a lot of eyeballs rolling as to the cause of this surge. Fair enough, but a lot of people fail to realize is that every market has a mind of its own & sometimes you don’t need any reason or rationale behind such moves. Considering the fact that Cryptos have been under relentless selling pressure for more than a year, there was bound to some meaningful correction at some point.

Apart from the volatility and financial market mentality of these digital assets, we are also dealing with a fundamental technological shift via the DLT/Crypto revolution. Certainly not the only one as there are other technological drivers like IoT, AI, Fintech & 5G, but I believe they all compliment each other in converging towards a common goal of digitization of the global ecosystems.

Coming back to the recent price move in Cryptocurrencies, there are a few theories roaming, some more believable than others. So let’s take a look at them.