I believe so, as billionaires could achieve their place through some research and investments intuition. And bitcoin is one of the way to doubled their capital, so that bitcoin could pump so fast due to their funds flow in and then drop back if they cash out, I believe they are what we called whales. At least, billion of dollars flow in and out through cryptocurrencies world, and it should be come from some billionaires that make the calls.
Because in their view bitcoin is still small venture in terms of total market cap. But there will be some exceptions some other people who will be liking to take more risk might be investing into bitcoin these days.