1) Noobs go to bitcoinwisdom
2) Noobs see big candle starting because of the dumping of Goxcoins
3) Noobs panic and google "Bitcoin news"
4) Noobs see the SEC news, see the Binance hack news, see the MtGox news... the spiral to FUDland begins and it's just a domino effect of selling
And 5) Noobs sell their whole position (being 0.002 BTC). Come on Noobs dont make the market. Big money makes the market.