From everything I've gathered over the years, it seems like it's almost exclusively opinionated speculation. There are tons of numbers, statistics and theories that would support almost any price point imaginable. People can explain why it will go down at the same time people are able to explain it having the capability to rise as well. Nobody knows the future, and honestly people do not know why the price moves outside of educated guessing. I'm sure someone will have a laugh at my expense, as they believe to be a prophet, but the honest truth is nobody knows. We can only tell you whatever news, investment, innovation or other information is the most relevant and impactful, this is as close to explaining a rise/fall as you can hope to get, IMO.

I think the question is worded incorrectly though, because long-term BTC has always been "skyrocketing" as you put it. Short-term, this is nothing new, or out of the ordinary. What has made this particular movement in price cause you to ask the question in the first place? Are you new to Bitcoin? We've had much bigger inexplicable leaps and falls.