Nope. It's just too low to happen. Especially now block rewards are only worth 12.5 BTC. If it's not by legit demand, then I am sure Chinese exchanges will offer a helping hand to manipulate the price to healthier levels again. Beside that, it would be very sad to see the price fall even below $400 again. Something that took us years to build up gets smashed down so fast.
So what's the reason why the price has gone down so much? Over 10% in a flash is just a big dip. Has the price been spooked by the Ghost month? We know that the Chinese usually pulls out their investments during August to avoid bad luck. Too bad I haven't the funds to buy right now.