This is just an attempt to buy lower most of the selling today is fake to create a panic
If no panic dumps occur within 3 hours expect a fast recovery
Or maybe Monero 200k is incoming, and this is just like the top from last year at 430. Chart looks very similar, though not identical. No one here wants to admit this possibility. I bet everyone was bullish at that last peak too, just like this.
Oh no! Fear, uncertainty, doubt!
Look at the volume compared to last year and consider the environment- Monero is nearly ready for the big leagues now, unlike then. The core engine is much sleeker and there will soon^tm be a GUI. Things like Ring CT and multisig are going to make it even better.
Meanwhile the subreddit has more than twice the number of subscribers from that time period and we are getting more exposure all the time. The emission is way lower as well, and Poloniex (main exchange, and featuring an XMR market) isn't some young startup anymore - they are one of the standards for a crypto exchange.
Additionally I've heard XMR chatter spreading around the Internet and approaching critical mass - the secret is out and we are gradually approaching a mainstream awareness of Monero.
Like Mark Baum, I will be the one to stand up and say: "Zero. There is a zero chance we return to the levels of last year."
