If it was the Bcash drama causing this decline, people would dump their BTC and park their funds in altcoins, which isn't happening. It's panic of the purest form that takes the price down. This is crypto. Welcome.
some altcoins are holding quite well. XRP for instance. its rise against BTC has mostly offset the crash in the BTC/USD market.
The bottom isn't what people think it will be, because remember, the market doesn't repeat if the mass expects it to repeat. The bottom will be known by the time we're going back up again.
People panic but don't realize how much of a buying opportunity these dumps are. I'm sure they'll get back in, but that will be on the way up, where they always find themselves enter the market at the wrong time.
true, it'll only be clear in hindsight. by the same token, it's hard to know exactly where the good buying opportunities lie. masterluc considers the long term trend intact
until we touch the $1200 level and i think that has a pretty strong basis. lots of wiggle room there!