I think it is because too many people started to panic, there was too much bad news recently, the national regulation, facebook ban ICO advertising, Japanese exchange stolen, the news led to the falling of the bitcoin.
I think it will take some time for the market to recover. All we can do is wait.
I think it will take some time for the market to recover. All we can do is wait.
The market doesn't need to recover. It's still higher than it should be. Look at the charts and pay attention to the price it was January 2017 till June 2017. Project that line. Bitcoin is still above the steady growth line.
Everyone needs to relax a bit. Take a deep breath.