The trigger for what happened to the market is still unclear.
Thoughts?
1. the 2017. was triggered by VC money that needed to buy btc to pay off some tranche(contracts) that succeeded in november2017
the price of 2017 should have not gone up so much, but speculation, hype and FOMO pushed it too high and that temporary bubble burst by spring 2018This is so on point. You've clearly explained a whole lot that most people don't really understand about the price hike of Bitcoin in 2017.
to add to this. and explain more about the black text part
DCG.co and digital garage are high investors of blockstream (guys that programmed segwit into bitcoin, to make bitcoin compatible with another SEPARATE INDEPENDANT NON BLOCKCHAINED network called lightning network.
compatibility NEEDED to succeed by november 2017.
(alot of developer/social drama went into ensuring segwit got adopted and LN active)
devs got paid off in november2017 by means of BTC (millions of $$ worth) which is where the actions of the mandated upgrade instead of natural adoption was so controversial.
as a separate 'bet' those VC's also done some futures contracts which expired november 2018