The buying frenzy may have cooled off a bit, yet Bitcoin is still keeping its head above the $7,000 mark. What caused Bitcoin price to skyrocket this time around? Digging a little deeper, it appears it was not retail-driven.
Oftentimes when we see a Bitcoin buying frenzy, it’s fuelled by FOMO. That’s always a consideration when prices start to go parabolic. However, the general public not wishing to miss out on the next bull run doesn’t seem plausible this time around.