US and China worries are affecting the stock market, and the same people selling there are selling here. What is the point of being decentralised if "big money" still owns your ass? It's a joke. Crypto is just another column on a "profit & loss" spreadsheet somewhere.
Sure. So called "big money" can definitely manipulate the markets. But does that automatically mean that they "own" you? Definitely not. Whatever the value of your bitcoin is, you still end up with the same amount of bitcoin. There's just so little money into bitcoin or cryptocurrencies in general compared to other assets like gold, hence bitcoin is significantly easier to manipulate in terms of price. As more money goes into bitcoin, it gets harder and harder to manipulate, because as more and more money goes into bitcoin, the prices will be harder and harder to skew with huge buy or sell trades. It's going to take time; don't expect a new asset that's only 10 years old to find it's sort of "stable" price just like how gold did.
As for the stock market, the stock markets went through a multi-year bull market. A bear market was pretty much inevitable.
My prediction? Back to $600, the price before the last big pump. That will wipe out most ICOs and AltCoins as they will be worth absolutely nothing.
Good. It's actually better for the markets if these shitcoins just go out of business so people could focus on the important projects.