I think the market is just been manipulated and it's really bad for the system and that is the major reason why alot of authorities have been talking about regulating the industry
Yes this is what is happening but you should not be happy about it because it is possible that the price might even drop 40 or $35000, cryptocurrency is unpredictable and we should only invest what we can afford to lose.
The bulls is looking to push the price above 50k before the end of the year.
A sudden fall saw it crashing down to 39k after the ban of crypto activity by China
As bitcoins was able to touch 40,000 dollars it actually went up to 69 thousand dollars as the all-time high before it drops further, out of expectation it has dropped to 16 thousand dollars presently.