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.