What's Behind Bitcoin's Recent Rally?

What's Behind Bitcoin's Recent Rally?

The cryptocurrency mania that gripped investors for much of 2020 took a 180-degree turn in April. Since then, Bitcoin's (CRYPTO: BTC) value plunged by about 53% before rebounding 28% in the last two weeks. Shortly after the sell-off, Twitter (NYSE: TWTR) CEO Jack Dorsey, ARK Invest CEO Cathie Wood, and Tesla (NASDAQ: TSLA) CEO Elon Musk all endorsed the cryptocurrency.