The whole market needs to relax a bit. The response to this ICO stuff is ridiculously overblown. In the long run a bit of regulation will be good news for crypto. Scam ICOs will get weeded out and only genuine projects will be allowed. The current ban is just an initial response, it's not banning all new coins forever.
Exactly. I think Whales just closing the end of quarter and take profit. For them any bad news is a reason why price is droping. I saw it many times and the most big profit taking is usually at the end of quarter or close to it.
This China news was ideal shield for Whales.
Two weeks™ and we will see the big rise again.