1. People get scared.
2. They panic sell.
3. More people get scared.
4. Back to 2.
I suspect most is coming from early adopters that were thinking to become multi millionaires fast but their dream is falling apart now and they panic sell to get what they can before it's too late.
Topic: Why did BTC drop to $570 level? - page 3. (Read 4315 times)
Increased seller pressure. Having a look at the bid sum / ask sum ratio at Bitstamp, and then the question
should be 'why did it take so long?', with the answer 'because of hodling'.
should be 'why did it take so long?', with the answer 'because of hodling'.
Because of the leverage on 796, btc-e, okcoin, etc, they collected enough bitcoins to dump and puncture the market depth
Why did it go up in the first place?
I still can't believe it's already over $100.
High prices can't be sustained for long. The market is saturated. People are realizing that Bitcoin is a bad investment.
Could be a short term double bottom, we should look out for resistance at $540 now.
Why did it go up in the first place?
It's summer, so liquidity is low. Somebody drops a load and tear through the sell orders. The arbitrage bots on other exchanges follow suit.
Because before every other bubble there was a drop? Don't fight it, let it drop to ~450$ and in 3~4 months we will have new ATH.
Because it was time for the 4:00am Dump. 
As title.
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