the China news maybe was a catalyst, but the bubble was bound to pop. a look at the charts/moving averages showed a clear loss of momentum.
What is encouraging to me is that the popping of the "bubble" in April and now today (so far) the price didn't crash all the way down. That tells me we have some strong investors that are confident in the product.
In April the Blockchain split (lots of people somehow fail to mention this) and Gox had 8 hours of lag that people were trading on. The price will not take that drastic drop this time.
