Many reasons, depending on what you believe.
Technical analysts point to a proven cycle of rallies shortly after a Bitcoin halving event — always around 6 months after halving. This happened twice before and appears to be happening now, roughly 6 months after the last halving on 11th May 2020.
Fundamental analysts believe it’s simply a matter of network strength. More hashpower means more security, more users and adoption means more demand and utility, and this year we’ve had strong buying interest from big companies and institutions.
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