"Easily misinterpreted" characterises this whole "crash". The China news was easily misinterpreted as China outlawing Bitcoin completely, and the 10-year-old JPM patent, completely unrelated to anything Bitcoin does, is being easily misinterpeted on purpose by maxkeiser as JPM preparing to sue all Bitcoin exchanges. Bitcoin holders are the most jumpy creatures ever.
Monument to the "news doesn't matter" argument. Sentiment is king.
Sentiment is the Queen. Utility is the King.
For the past little while though, the King has been taking a nap and the Queen is running the show.