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
It depends on how people spend their bitcoins. If people see bad news about bitcoin in media they will immediately sell it for a lower price than the market so the market price also drops. If people see good news about bitcoin they will buy more because they know the price will go up. When a lot of persons buy bitcoins in the same time the price go up.