Bitcoin price reached an all-time high past the $8,000 mark to $8,040 on Friday and $8,101.91 on Monday on Bitfinex cryptocurrency market. Since it comes as a buildup of events since the huge sell-off on Sunday, Nov 12. Therefore, the price fell to around $5,500.
The said dip in price resulting from the calling off of a planned fork SegWit2x. Since which was a plan for November 16. Bitcoin wanted to increase transaction speed through the fork but it would be a hard fork. Thus, that would lead to the formation of Bitcoin Classic.
The jump in price comes after spreading some rumors that some minors who supports SegWit2x upgrade. Hence still planning to proceed with the upgrade even if it suspends by developers. Usually, some surge in price is expecting ahead of Bitcoin upgrade or hard fork. Since present bitcoin holders also get a free share of the new cryptocurrency when it is distributed, after the hard fork.
Source
https://coinpedia.org/news/constructive-reasons-bitcoin-price-jumped-8000/
