http://www.btcfeed.net/speculation/real-reason-bitcoins-descent-revealed/
One of the best articles I have read in awhile.
No, it is manipulation of exchanges. Some exchanges just want to "get rich quick".
When the majority of retail investors go long, exchanges with insider information will go short and trigger margin calls.
When the majority of retail investors go short, exchanges with insider information will go long and trigger short squeeze.
I guarantee you they are doing this and they are the real whales.
That makes a lot of sense too . I certainly think exchanges have the best advanatge and can manipulate the prices in a crazy way.
They also have the information regarding any whales wanting to buy in or buy out.