yep pertty much.
There was a low in April and yesterday that level was broken. There are a few reasons , not one of them alone is the cause. Technicaly all of the resitance levels just keep getting broken, there was one at 420 but then it broke and it has been going down pertty rapidly since then. The price has to go back to around 460 to be back in a bull trend. Sell preasure from retaliers that just cash out into fiat, Russia wants to fine the use of bitcoin, and a big event is coming up that is probaly what is being priced in now. NYC will annoucne the "Bitlicense" supposedly on Oct 6th. This is basicly one of the most over regualting pieces of regulation ever made, which would require any merchan that accepts bitcoin to do things beyond every bank does now in terms of KYC and many more issues. There are already other states that have signaled that they are not going to follow the lead of NYC and will use already exsiting laws, for example laws that regulated money transmitters ect. However some people fear that the Bitlicense will become a standard for other states which would basicly drive all startups, innovation and bitcoin activity out of the united states. In the meantime miners are freaking becaues at these prices it is hard to get ROI but in the mid term this could lead to a slowing of the difficulty rate in the future.
