I do think we hit the bottom. There are a lot of analysis that showed support around the $3000 mark. I think this was just the market reacting to the news in China about their ban on ICO's and BTCChina closing. I'm sure the markets in China are selling and withdrawing funds and having its effects where people are taking profits when they can.

It looks like it made a little bounce and is sitting nicely around $3500-$4000.