Rankings tanked

Hey Guys,

my site just tanked for lots of rankings, from ranking 3-20 for about 30 or so terms in UK and US.

The site is about 6-7 months old we were ranking very well for a whole bunch of competitive terms in UK and US.
No messages in GWT.
Weirdly it seems we dropped on both Google and Bing. I checked the server and we have had no down time.
Site has a total of 50 links, no sitewides. But starting to see a couple of odd sites linking like start.bg in GWT
We have dropped up to half our terms before but have come back stronger, I just assumed it was because it is a fairly new site.
Pages are all still indexed.
I'm assuming it's a algorithm penalty, but I could be wrong.

Has anyone else got any thoughts of what it could be?

Apparently there has been a "small earthquake" in the serps couple days ago.

Well I have diagnosed as much as possible, do you think its worth just waiting for a few more days?
I can't see what we can do right now as link removal may not be necessary, I mean it's good to clear up some of the bad ones that have linked for no reason I guess.

Can I take a look?

Pm me.

FPS

If the sliding continues in the coming days/weeks, it's the start of a big hard slap!

Can't PM yet :/

All dropped on same day, from ranking well to no-where

Have you been doing link building lately?

yeah speaking to lucas tbh I think I went ott with targeted anchors, but all good easy to fix

Double check your link profile. Webmaster tools does a horrible job showing links so there could be a lot more bad links in the mix than you even imagine.

Be sure you check via majestic/moz/ahrefs and then report back...