Looks like we're still locked into a downward channel after all. This of course totally invalidates what I said yesterday. Wonder how far this is going to go?
It won't stop me from mining the crap out of it. I'm currently contributing a little over 100 KH/s to the network. I see huge potential in XMR and it seems to have a dedicated group of developers behind it.
It was obviously going to correct after such an aggressive rally, but this seems a bit much to me. Can't blame this slide on rising BTC value either IMO.
Disclosure: I'm cost-averaging into XMR on a daily basis, amassing a sizable long position, and planning to hold for the long haul.