well, today is new year's eve and only people with no life like me (and some of you ) are trading and babysitting their mining rigs...
so small market orders can create insane price swings....
I'm sure it can go much lower. but it won't stay there as soon as the rest of the people are done partying
I had the highest buy order at 385 satoshi for half an hour (had to re-enter it and change price so I staid on top) and no one wanted to sell...