Previously, Bitcoin price broke the $3,000 mark mostly due to optimism surrounding the activation of the Bitcoin Core development team’s transaction malleability fix and scaling solution Segregated Witness (SegWit).
However, shortly after that, a major market correction led Bitcoin price to fall to $1,900, and it stabilized at around $2,500 amidst uncertainty regarding SegWit and the execution of the BCH hard fork, which was initially proposed by Bitcoin mining equipment manufacturer Bitmain.
https://cointelegraph.com/news/bitcoin-price-explodes-to-3212-new-all-time-high-factors
I'm hearing reports that over 70 large hedge funds are preparing to enter the cryptoshere. They were waiting on the protocal upgrade.