The soaring price of bitcoin may be influenced by several things such as the limited supply of bitcoin itself, which can make bitcoin rare and difficult to obtain by mining as usual.
In another view, the soaring price of bitcoin may also be influenced by the joining of financial giants such as papal in the crypto world so that bitcoin is increasingly trusted by the public and automatically causes its price to soar.
It is fortunate if there are still people who keep bitcoins which they got when the bitcoin price was still low. Of course, he can now make double the profit if he sells his bitcoin assets. But maybe they don't want to sell their bitcoin yet because of course they still hope that the price of bitcoin will go up again which of course will further increase the profit from selling their bitcoin.
Apart from some of the things above, it is possible that other causes of the increase in bitcoin prices are even more complicated. As a layman, I have not been able to find further information on this issue.
I took this cart image from https://poloniex.com/exchange/USDT_BTC.
