It's the emotional cycle. People are prime for this. I mean if you look at the order books right now there is not a lot going on on the buy-side so it's probably very easy for whales to push the price down. Each day some new person wakes up and panics and sells off their holdings. That will continue until it doesn't.

Personally I think we are either going to get a turn in the next 30 days and start the flat period. Or this thing is going to leg down for another 6 to 9 months doing a full-blown repeat of last time. It would make absolutely no sense as the fundamentals are completely different but there are one hell of a lot of gamblers in the space and their emotions move the same directions. The fundamentals don't really matter so much when the buy and sell buttons are often emotional choices