On Tuesday, February 16, 2021, the price of Bitcoin surged above $50,000. Many cryptocurrency analysts attribute the sharp rise in the price of Bitcoin, and altcoin, to increasing interest from institutional investors. In Q1 2021, major companies like MasterCard, PayPal, and Tesla indicated strong support for cryptocurrencies. In hindsight, the 2017 rally which pushed Bitcoin’s price to $20,000 was driven by speculative retail sentiment, while the 2021 rally was driven by institutional demand. Previously, retail demand for Bitcoin was fuelled by leveraged trades, making the market inherently volatile. Regardless, it remains a speculative asset with questionable intrinsic value.