Over the last couple of weeks, bitcoin has been enjoying a well-deserved bull run, characterized through rapid price increases within a short timeframe. During the last 30 days, the cryptocurrency has managed to surpass its previous all-time high of $20,000, thereby establishing a new record of $41,940. The market was quick to celebrate, gasping in awe.

Fuelling the Bull Run

The bull run was fuelled by an overflow of capital deriving from institutional investors, and further consolidated through ongoing retail investments. Many analysts warned that this was a bubble and that a price correction was imminent, whereas others were firm in their belief that the bull run was only getting started.

So far, 2019 hasn’t brought along much price volatility on the cryptocurrency market, but the trend is quickly changing. With this in mind, the bitcoin price recently went through a 19% increase, thus breaking the $4,200 technical barrier. This quickly led to a price growth that managed to hit $5,000 in only a few hours. At the time of writing, Bitcoin is trading at $5,245.

As it often happens, following the price swing, numerous other important cryptocurrencies went through the same change. As such, the XRP, Litecoin and EOS all increased in value. The ether price grew from $137, and is currently trading at approximately $155.

Any price swing of this magnitude begs a simple, yet highly-relevant question – why? So far, several price analysts have shared their opinion on the matter. Before we dwell into the reasoning behind the uptrend, it is important to mention that this is pure speculation, granted bitcoin’s complex marketplace.