The day's not over yet. It fell 30 bucks in six hours, and now the volume's dried up and it's stopped. If it goes down another 30 bucks today it could signal a trend reversal, but it could start going sideways again and leave us all guessing.
I think bitcoin is directioless at the moment. There is no good or bad news to drive the price up or down.
eh?
oh, you are one of those that believe markets are driven by 'news'.
How about this....
....a whole bunch of sharks have bought BTC at 'undervalued' wholesale prices.....say $320, and now a whole bunch of noobs must buy them at overpriced retail prices say $400+. Once the sharks have sold all the n00bs their BTC, their buying support will not come back to market until we are back down in wholesale price range...say $360....the n00bs will help Bitcoin get down there by panic selling their $450 BTC into the shark's $360 Bid Walls.
wash rinse repeat.
That is 90% of how markets work.
'news'....pah.