That's one of the beauty of cryptocurrencies. It can appreciate in seconds and also dip in seconds. There are certain news that have effect on bitcoin price. One of them is the ews received today which have caused a dip in Bitcoin price with other coins following suit.

Goldman Sachs bank have been nurturing plans to open a trading desk for cryptocurrencies. Imagine having the ability to trade cryptocurrencies in a wall Street bank. Now it is believed that the plans have been dropped, thus leading to dip in Bitcoin price. That is the main reason for the sharp drop in price