So this all makes perfect sense, eh?
Weeks and weeks of excitement and price rise on all exchanges. People were saying China was leading, providing 90% of the volume, and couldn't get enough.
Then an auction ends.
Then an exchange has network problems and goes offline for a bit.
Meanwhile price plummets.
Exchange comes back online.
But now we're at -130/btc, and all trading has essentially come to a complete halt.
Makes perfect sense, right? But...but.. China demand?? Right?? Fellaz??
When the world learns the number 2 crypto is being run by Mr. Thompson's 9th grade Computer Science class, it gives some big-pocket investors some pause, across the entire sector.
Maybe you don't need trust to transact financially in the brave new world, but if you don't have the technical chops and/or time to distinguish players within a new sector, you need trust to invest there.