I think that the sentiment has become very bearish very fast in the last days... you know what this mean? Big fat green dildos out of nowhere. You short now, confident that "we are going to retest X", "it will bounce only from Y". After all, everybody is saying that. And after you surrender to peer pressure BAM the green dildo of revenge. Then, it will become obvious that you shorted at the bottom.
Don't take for granted that this is not THE crash...
Well you are right, we may be headed to 2 digits. But it is very improbable. More probable is that china is doing a trap (and painting some sort of 'double bottom') before a move upward of a week or more. 2 hours and china awake, lets wait and see. Whatever happen i'm confident it will be fucking awesome.
I am not sure exactly why bitcoin's price has been doing so poorly lately however I do think it will eventually rebound. I doubt that China has anything to do with it as people in china that hold bitcoin do not all think together, they think (and act) independently.
I would also say that bitcoin's recent price action is very far from a "normal" bitcoin crash based on how severe previous crashes have been
