Movements like these makes you wonder how decentralized Bitcoin really is. We will probably continue to see such volatility until the big holders have sold their Bitcoin.
I'd guess the volatility we saw today was mostly caused by new money. Long term hodlers don't get fazed like that. But it's impossible to say for sure.
What the hell just happened to the markets today, Bitcoin in particular!?? That was a pretty steep and quick market sell-off for it to just be some profit taking?
The market got overly enthusiastic due to finally breaking the legendary USD 10,000,- barrier, causing it to overshoot. As usual with markets that grow too quick, a correction followed. Think of it as a mini bubble.
Really? The longer I'm in cryptocurrencies the more I'm getting the feeling there are different forces at play than just weak hands. Look what happened a while ago with the cancellation of Bitcoin Segwit2x and the surge of Bitcoin Cash.