I think people are overreacting to news from China. It's just one country and the world is big. China may have an influence right now, but I bet not even 20% of coins is in their hands, so even if they all sold at once the drop wouldn't be this big. We went down because all other investors started selling for whatever reason.
Oh, no, the Chinese are jumping ship, Bitcoin is dead, let's sell! Cheesy:D