i'm new to the bitcoin community so i'm just very curious about what causes the prices to sometimes skyrocket but then drop really low so quickly. Thanks
Mostly, some events that occur. There was a huge price drop recently because of China banning exchanges and ICOs. There were some other things like: information that Russia may also ban cryptocurrencies (which probably won't happen because they have started investing money into them) and some wealthy "players" started to claim that Bitcoin is a fraud, the funniest thing is that they bought more bitcoin when the price was really low.