I think that yesterday was a panic selling by some people because the china government has tried (or did) affected the bitcoin by tried to control it, but the price again went a little up.
I do not think that yesterday's events and fluctuations in the price of Bitcoin is just a panic. Surely there are some hidden reasons
The reason behing the panic is that there are rumors that the chinese government will implement some strict rules against bitcoin and they would start taxing them heavily in order to reduce the amount of money flowing out of the country and this news had a big impact in the price
Let the chinese do all they can but the impact will never reach the extent that will not bring bitcoin completely down because they can only manage controlling their citizens who are using bitcoin but not other country's citizens. Panic selling does happen most probably just after a sharp rise. I guess Chinese maybe just a trigger this time.