Why is this Mt Goax news causing so much movement in bitcoin prices ?

[JeffBrad12]

because fear is what allow you to manipulate the price and it doesn't cost anything  , the news about mt gox is so overblown, actually if its not for the constant fear of Mt Gox news that keeps coming out, people will not care.
if we are being frank, the news of Mt Gox has already been there from a long time ago, people know eventually Mt Gox will pay its vicitims but surprisingly right now people acts as if it's the doom of bitcoin, while it really is just them being paranoid.
the market could easily endure all those potential sell off of BTC just fine, the time german government decide to dump their BTC to the market, there are so many BTC sell off outweigh the what Mt Gox gonna distribute but the price just dumps a little, it's only when the news of BTC dumped by german government spread that market become a bit frenzied.

[Greyhats]

Its absolutely normal to feel fear when you go through your first dip. Know this there will be more of them, and each time you go through them you will get a bit stronger and wiser. Your going to make some mistakes, if you do dont beat yourself up take it as a learning. Keep accumulating to the best of your ability.

At some point in the future you will be replying to someone like this saying the same thing.