Looks like we'll be testing April's low of $339. If we brake below that, then the next $ amount I'd look out for is the high of ~$270 from April 2013. The fact we weren't able to stay up after last weeks paypal news just reconfirms the bear market.
This exactly. The huge news from paypal meant nothing. There has to be a fundamental change for this trend to reverse itself.
The winklevoss etf is the only thing I can see that would do it.
I'm not so sure...
BTC price can be easily manipulated with good leverage using only a relatively modest bank.
If some investor wanted to buy alot of coin then placing substantial market asks and limit bids will lower the price, this is aided by bots behavior in such conditions, bots are selfish and fickle and can be slid around as if on a greasy skillet. Bitcoin market has a high population of bots.
Of course this doesn't come for free, but the point is that the whole market capital value can be adjusted by X$ and it will only cost Y$ to do it, where Y is ALOT less than X. If someone is considering buying a massive amount of coin then it would make mathematical sense to do this.
So if somebody has a good bankroll (modest in corporate terms) and is also privy to knowledge of bitcoins impending rise in popularity ( inside info ) then this drive down before starting to buy is par for the course, it happens often with other securities.
I will add that I am only rambling on
