Bud Blast Prevention

[MothLover]

I recently added a white Phalaenopsis (amabilis x Sib) to my small collection. When I bought it, the youngest bud on one of the spikes was yellowish-brown. About a week later it fell off. Is this what is called a bud blast? If so how can I prevent I from happening to the rest of the unopened buds?

Also, does anyone know what the "Sib" stands for in the name of this plant? I've tried to find it on the internet, but I havn't had any luck.