Someone just pumped BTC 100 USD
It is impossible for rational thinkers to make sense of this market: Whales and pump and dump entities have destroyed it.
In addition BTC pairs are on the way out and will make BTC worthless.
That's the main problem I think apart from media perceivance.
Bitcoin is being artificially inflated and dumped by these types of people to gain profit. Bitcoin should be left alone to grow normally, however it just isn't when the market is as it is today
There are too many average Joe's that quickly react to any change in the price of BTC, and this is what's causing such huge fluctuations