On the one hand, we have a general recovery on the crypto markets. The bad news from China and other countries has now been digested and one looks much more optimistically on the crypto market than a month ago when panic dominated the markets. Bitcoin also benefits from this reassurance.

On the other hand, Bitcoin Gold is approaching ever closer, a hard fork, which theoretically could lead to a further split of the Bitcoin network on 25 October. Against the backdrop of Bitcoin Cash Hard Forks a few weeks ago where Bitcoin owners have been credited with Bitcoin Cash in addition to their Bitcoin, many investors or speculators are now hoping that this could be repeated with Bitcoin Gold. This is why people heavily invest in Bitcoin, hoping to make a profit after a split through the additional win of Bitcoin Gold.

Also the increased interest of institutions seems to play a role for this renewed price rise.

So there were rumors, for example, that Goldman Sachs would think about a "Bitcoin Table". This would indeed be groundbreaking. Other experts and investors are also increasingly showing that they are interested in the crypto currency.

Even if the Bitcoin opponents maintain that the crypto currency is in a "bubble", the price development of the last days shows that this is not the case.

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