First of all, before the falling of the stock prices and Dowjones dropped for almost 1k in one session a few days ago, bitcoin as for other cryptocurrencies has suffered since the beginning of January. In my opinion bubble like this tend to happen but its not that big of a bubble yet but it simply because the tendecy of recent overgrowth popularity of crypto that comes with consideration from world leaders that cryptocurrencies possess a lot of risk and therefore some of the countries trying to ban it and creating massive FUD around the world. Its common knowledge that when an item was overpriced and overvalue in a short time, they will also dropped to the normal price in a short period and in this matter is cryptocurrencies.
Recent downfalls of dowjones from 25,5k to 24k, which is a lot in stock market volatility
While the bitcoin and some other major crypto recent fall affects the market as whole, we should also saw the risk possess by some recent lending coins which known as ponzi and some of them already failed and filled for bankrupcy, such as Bitconnect. I think this is the first pioneer for recent outburst of FUD and also the first lending coin and the first to become bankrupt while manage to reach a large capital in the coinmarketcap. The recent overgrowth popularity of bitcoin and other cryptocurrencies has made common people to invest in this crypto investment and when the investment falls and people dont have money to either buy in dip or survive the situation makes people tend to find other source of cash money which lead to people start selling their other assets such as stocks and bonds which lead to other downfall in stocks market.
However until now, i think bitcoin already came back in the normal price of which the normal value and i doubt that it will fall below $7k as we see at the chart that this is the normal upward trend before sudden burst which drive bitcoin towards $19k in a month and half timeframe.
Since there is no movement in any commodity prices whether its gold or oil, it makes me believe that this occurence is normal because if people still have cash or any assets left to survive, then they will try to move their assets of investment from risky assets such as stocks and cryptocurrencies then they will divert it to safe assets such as gold.
PS: If there is anyone that can help me to post how to make a spoiler command e.g [spoiler][/spoiler] in this forum i would really appreciate it since the image i post is too large, apologize for that