Prices dropped to 371. This is a big event in terms of bitcoin's image. Nobody will want to trade it anymore, for a while. This is not a sane market, where you can loose or gain 20% in a day. I presume we'll eventually hit 266 mark and stay low for the next months, maybe a full year.
I'm confident in BTC as a technology but the speculation shit has come to an end. I feel sorry for the folks that bought with dreams of get rich quick and lost a shitload of money.
It feels painful to see what happened last 8 months. Prove me I'm an idiot, prove me I'm wrong but I think the bottom is much much lower and a trend reversal is at least a year away.
Servers them right. That's what happens when you try to get rich quick with no actual work. The lower the price gets, the nicer it is to see these idiots get financially ruined.