Yup, most definitely, the price could move in either direction.
But, from personal experience, barring some extreme cases like sudden hacking and theft from an international bitcoin exchange or something planetary like that, these days the price is relatively stable, maybe moving a few US dollars up or down within an hour or two, or something like that.
But because I could buy bitcoin instantaneously, and then transfer it to my bitcoin account on the Malaysian exchange and sell it there within the hour, usually the price movement is not significant.
What could be significant, though, is the buy/sell spread (i.e. the price you paid for it overseas, and the price that someone in Malaysia is willing to pay for in ringgit) which could sometimes be a few percent off......but from my personal experience, I lose that amount in forex anyway when I use TT, so I'm cool with that.
Plus, I can get the money in my local bank account within the same day, which is good.

I am not familiar with bitcoin transfer. Correct me if I am wrong.
You buy a bitcoin using your overseas account and sell it to a Malaysian buyer through a bitcoin middleman/broker. Then the broker will transfer the money to your Malaysian bank account. Am I correct?
If the amount is huge, how do we answer to BNM? Is there any way to avoid BNM's 'radar'?