Ignoring the huge amount of spam on this thread, I would say that the price drop has something to do with bitfinex's recent policy change that allows them to change the max amount of leverage based on market volatility. This probably caused somewhat of an initial selloff, which caused some people to get a margin call, which caused more of a sell off and so on. I have read that the prices on bitfinex were somewhat lower then other exchanges for much of the time as prices were falling quickly.
don't think that happened. if you were watching bitcoinwisdom at the time, you would have seen a single 5000+ sell. that caused the margin call cascade. it had nothing to do with a policy change..... it's called preserving capital......
Still, it could have been triggered by the fear of new regulations concerning margin trading! You don't know WHY that sell happened. But it was quite mesmerizing to actually see that big candle going down and seeing longs go bust. The credit bubble hasn't popped, though. Has it?
No, we don't know why, but it did look like one person/group, and there are many reasons to sell, and I'm not even sure if that's one of them, from glancing at the change. But no, don't think the bubble has popped. Then again, some whales could step in and keep it going, too.
