I wasn't paying attention, what happened this time that scared folks enough to bring the price down to the 700s range?
Chinese govt. says no 3rd party transfer outfits, think dwolla, banks only
Yeah, that was it (tenpay or something?)...and of course a few weeks ago the Chinese govt said it was unpatriotic for banks to use BTC, so getting fiat into Chinese exchanges is going to be difficult.
But the Chinese are pretty pragmatic....I imagine a lot of party members are buying cheap coins right now and at some point a govt endorsed company will step in to run things in a regulated way.