I think a lot of people are holding due to fear of Mt Gox, or this sell off could be Mt Gox. Either way we need to big buy volume to come in to get the momentum going. Tether Volume is back over 5B
We have Consensus in two weeks!
I have to disagree with the Mt. Gox influence. So I won't mind if he decided to offload again. We are tired of him trying to pull the price again and I'm sure that everyone knows about him and I'm sure that if even the price goes down because of the Mt. Gox, people are still going to purchase bitcoin once more specially if the price goes down.
i am fairly certain that Mt Gox trustee had nothing to do with
the drop or any of the subsequent drops that followed. the trustee like anyone else was a seller and like any other sellers they don't want the price to drop since they are going to receive a lot more if the price is still up.
all the drops were corrections, panic sells,... and the Mt Gox news was FUD like any other news including China, Russia, Korea, India, ... banning bitcoin that kept coming out.