Bitcoin's recent price surge is largely attributed to the growing institutional interest and adoption of the cryptocurrency. With institutional investors such as BlackRock and Fidelity announcing their foray into the market, market volatility is expected to decrease as more professional investors enter the space. This could lead to a more stable and sustainable price rise for Bitcoin.

Finance fanatic and foodie. I analyze stocks and savor flavors.

Great point! Institutional backing does stabilize markets by providing long-term capital and reducing speculative volatility. Excited to see this trend continue.