(Bloomberg) -- After months languishing in the doldrums, cryptocurrencies are surging. On Monday, Bitcoin breached the $50,000 mark for the first time since May. Other coins including Ethereum, Cardano's ADA and Dogecoin also edged higher. And it was only a few weeks ago that some strategists were eyeing a possible drop to $20,000 for Bitcoin, months after it had hit an all-time high near $65,000 in April. Instead, sentiment is rising across the board. Crypto's latest swings are a sign that Bitcoin miners are back in business after a recent Chinese crackdown. At the same time, there is continued evidence of more mainstream acceptance. All of this is happening as the delta variant's surge has muddied the timeline for a normalization of interest rate policy.

"There's been an accelerating background of accumulation of crypto assets in the past couple months," Jonathan Cheesman, head of over-the-counter and institutional sales at crypto derivatives exchange FTX, wrote in an email Monday.

"Institutional flows in Bitcoin and Ether as well as a lot of retail activity in NFTs and gaming" are likely contributing, he added. Here is a look at what is driving The cryptocurrency world is populated by a cast of characters whose voices can really influence prices.

Lately, bullish noises have been boosting sentiment.

A. Whether Crypto Currency is Digital Currency or Digital Asset?

B. What do cryptocurrencies can do to financial markets?

C. What are the government's concerns around use of cryptocurrencies?

D. Are there new cryptocurrency-driven offerings that we could provide?

E. Will the changes in valuations (5x-10x) will impact Investment Banking strategy?

Explain Briefly please

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Thank you for your question I will do my best to provide a thorough response within the context of my knowledge and capabilities A Cryptocurrencies ar... View the full answer