There was 3 causes of "crashing":
1. (saturday) we reached psychological $5000, a lot of people started to cashing out their profits
2. (monday) there was big news about China -> people wrongly assumed, that BTC is crashing due to China (they were just cashing out profits)
3. (monday) people started to believe to late news about '"great bubble" and "crashing market"; these news are published every day, but nobody pays attention to them when BTC is growing, when BTC is falling, we start connecting these FUD predictions with reality
Basically it was an AVALANCHE -> people cashing out -> FUD -> connection with china -> FUD -> everyday news -> FUD
During crash we reached long-time support of $3600. And we bounced back on the tracks. Back to the moon mission... .
1. (saturday) we reached psychological $5000, a lot of people started to cashing out their profits
2. (monday) there was big news about China -> people wrongly assumed, that BTC is crashing due to China (they were just cashing out profits)
3. (monday) people started to believe to late news about '"great bubble" and "crashing market"; these news are published every day, but nobody pays attention to them when BTC is growing, when BTC is falling, we start connecting these FUD predictions with reality
Basically it was an AVALANCHE -> people cashing out -> FUD -> connection with china -> FUD -> everyday news -> FUD
During crash we reached long-time support of $3600. And we bounced back on the tracks. Back to the moon mission... .