The technical explanations were (1) large sell order causes price depression and (2) ensuing margin calls.

Those aren't interesting. The first is expected behavior in any low-liquidity market. The second is expected behavior if foolish investors are involved in low-liquidity markets. In other words, this was expected behavior in the bitcoin markets.

Both factors are also seen regularly in traditional stock markets.

Not really. From this and your other comments it's now clear that not only you don't know anything about private stock, you don't anything about Bitcoin's history either.