Living in Palestine and as an Arabic native speaker and news follower, I noticed that when BTC reached about the $20k, there was a huge demand in the Arab golf area including: UAE, KSA, Bahrain, Qatar.
Those rich people in the golf area usually put their money in real estate and forex markets. When they first hear about BTC going over $10k they started to buy regardless of its price!
A huge demand resulted in this pushing the price to the limits.
When all people had already bought their needs, the demand was lowered and price started to fall to the normal price.
Now UAE in general is going through the smart contract era and is investing in Ethereum, they also have their own blockchain backed by gold "Onegram" you can check it onegram.org
Fundamentally, I think BTC will rise as the demand on exchange from ETH and other smart contract coins increases. But I don't expect it to boom as it happened the last time.