Why did Bitcoin prices surge 80% in 2016?

Could you elaborate on the factors that contributed to the 80% surge in Bitcoin prices during 2016? Was it due to increased investor interest, regulatory changes, or perhaps a combination of both? Did major events like the Brexit vote or the U.S. election play a role in driving up demand for the cryptocurrency? And how did the growth in Bitcoin adoption and acceptance by merchants and consumers contribute to this price surge?