the fact is that this is the only big problem with the crypto industry. the prices are based on nothing more than the whims of a large group of mindless cows. i am not saying that it is a bad thing that the price is volatile, just that it is near impossible to get people to accept this as a standard currency as long as four or five guys on a couple chat boards can manipulate the price so easily. this is the biggest hurdle that must be gotten over.
I don't think that is going on at all. The recent ramp up sent us into silly territory as prices got way ahead of any logical price. It was high time for a correction. I know its brutal out there but this is exactly how a free market operates. The U.S. stock markets also used to do this. Now there a million controls on the market and it is even shut sown if it drops to fast. That is actual manipulation. What you are seeing in the BTC market today is what happens when there is no ability to control the sell/buy decisions of individuals.
It really comes down to speculation. Many BTC speculators do not give a shit about bitcoin. They are trying to make dollars or Euro. They drive up the price in a frenzy then reality sets in and people realize that the price no longer makes sense. Those speculators then dump their coins and... POP!
It has happed many times before and is going to happen again. All is well.
did i miss something ? do you have sources from this hack 
I'd personally hold, we've still gone up a large amount since the beginning of this rally (from +-800$ to 950$), and I think we'll go sideways from here for a while.
) trying to short bitcoin. and so many similar stories we don't hear about but they are real and happen every day to newbies.