I believe one thing driving this crypto rise is the near future threat of negative interest rates. The banksters in the West have backed themselves into a corner, and negative interest rates are almost a sure thing now in the USA.
When people cannot make a decent profit in government bonds and treasuries, they are going to look for other places to put their cash. The US Dollar is also going to continue weakening, so what other choices do they have? Real estate? Nope, that's in a huge bubble too.
Who are those people by the way? Well, they are the ultra rich, banks, fund managers, etc. I'm not talking about the regular people like us. They really haven't been touching crypto much from what I can tell, and perhaps now they are diving in due to our current economic near collapse.
It's just a thought, and I could be wrong. :)