The big reason which is carrying the load of huge market crash is Coinrail hack. Since most of the traders here are from South korea, a huge number of trade is paused for the incident. And following the reason, FUD has been spread unbelievably. Finally, price is just dropping so fast. In this current situation, just HODL would be the only policy to learn and see the market movement.
I think some big market manipulator ride this sentiments and shorts the market, extending its downtrend as far as possible, getting them a good position of entry in the new cycle. I hope most of us are strong enough to face this FUD. I don't want to be the whale's dish either when panic selling.