Bitcoin slips back from record high on profit taking

Earlier this morning it was noted here on the quick news; that trying to pick a top for the recent move in Bitcoin might prove difficult as it was now trading in uncharted territory. Well, continuation of that move, following the break above 20,000 yesterday saw it rise to above 23,750. However, over the course of the past hour it has fallen back quite rapidly, dropping to around 22,350 a short while ago. There is no other reason for the relapse other than profit taking, which was bound to kick in at some point, especially after such a rapid move in short space of time. Bitcoin is currently trading at 22,720, but it is worth noting once again; that the price action is fast and unpredictable again today