You can call it a "correction"....or a "table" or a "chair" or a "puppy dog" if you really want to, but that doesn't help with communicating with the rest of the world that considers a 75% drop in value in one day to be a CRASH....LOL
And it doesn't matter if it goes to $300 by the end of the year, it still crashed the last couple of days... at least according to 99.9999% of the people out there. You have a right to believe otherwise if you want though (and redefine common terms).
Well, compare the value with what it was a month before and let's see where the crash is. Maybe it crashed for day-traders, but for people who use BTC in the long run, it didn't.
This one is more damaging I think. Mtgox taking the market hostage, not cool.