I'm free... free falling...
As to why, I've seen so many conjectures coming from mainstream news mostly based on information that is 10 days old. If you know anything about the rate at which cryptocurrency responds and rebounds from news... 10 day old news is ancient history.
As for why its happening, there are (I think) 2 major factors.
The first is the heist on the Sheep Market. I really liked this article on the topic - well written, and exciting.
Another factor is that coinbase.com lost liquidity on Friday and was unable to do provide their usual corn purchase function. Their website states they will resume buying this Friday. The reason I think this is important is that coinbase brings over $160 million dollars to market. Their activity has served to stabilize and keep prices fixed. Without them in the market to offset the chaos... this fall has been larger than usual. But I suspect that bitcoin will be back above $800 by Friday.
I guess time will tell.
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