With the previous surge in the whole market which saw Bitcoin close to the $9,000 range, analysts predicted a possible retract of the market and a new run; if the surge is real or a decline; if its just a bubble.
Many pointed out that the habit of crypto market is to have a run then wait a little before the next run.
With the current surge, there are bright opinion in the market. This may just be a new run to a new ATH. Predictions have shon a possibe run to $10,000 which may then lead to new wave of adoptions leading to a price surge of Bitcoin to the previous $20,000.
The market has since show sign of a huge recovery with many crypto assets shooting up to recover what was lost in the retract.