the price has been rising steadily for some weeks now. These last few days, the rise is has been bigger in relation to past periods. now in the last few hours and after bitcoin price nearing almost $270 we see a huge crash.
There's a lot of explanations for this price behavior... what's yours?
these rise and falls which are small are normal in any market because of the trades that are happening every minute.
but also it is the short term investors! or you can call them day-traders! as the price goes up a little after they have bought, they start selling for small profit hence the fall. but it doesn't affect the overall movement.