A correction was always going to be due and it's about time that it happened, people sell when it goes high and as far I know there was lot of sell and that's one factor. Secondly the August 1st Is a major news that's been effecting many including me, some have decided to dump Bitcoin for Ltc and then wait and see and that's hurting Bitcoins. I feel post august 1st, we shall see some clarity till then not really sure where the prices can go down or it remains stable.