Why is this sudden dump?
Apparently it started in China, several minutes before Bitstamp/Bitfinex.
The bitcoin press should be trying to understand and report on the situation in China. Are the Huobi and OKCoin.CN clients migrating to the new offshore sites BitVC and OKCoin.COM? Is BitVC going to trade in USD too, or only in CNY? (Or is that CNH?) Is OKCoin.COM going to be competitive to Bitstamp etc? And so on...
Reporting on bitcoin without looking at China is like reporting on casinos without considering Las Vegas...
Hm? Dump started on BFX
People selling because a rally isnt coming.
1. No more Willy bot.
2. No buyers
3. No more good news can come out. Bitcoin is mainstream now and still no one cares.
Its all waiting on ETF now.