Why Bitcoin is going down so fast and up so slow!? It took almost a week to go to 9700$ and only 16 hours to go back to 8800$!
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A common reason for this kind of price action is that confidence in an issue builds and the price slowly creeps up; then a few larger players (e.g., institutional investors) decide it's time to sell, sometimes due to momentum slowing, sometimes due to technical analysis (e.g., a prior resistance level is reached), and this causes a snowball effect as other investors quickly exit to avoid missing their opportunity to sell near the perceived top.
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That is probably true. What we (people) have to do is, we do not have to sell; when these large players/investors wants to buy again they have to pay the price :)
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