When the price of a commodity drop with no reason, you should know that it is being manipulated. The reasons for this is quite simple, because a lot of people know this is a fake crash and they are going to make millions, when other people start to panic and start selling their coins at these low prices.
The secret to maximize your profits in this game is to buy coins at the lowest price possible and then again to sell at the highest price possible.
What do you do if people are hoarding their coins and refuse to sell? You simulate a fake crash by stockpiling your coins over a long period and then dumping those coins at once to trigger a small crash. You then buy back these coins at a lower price than what you bought them and wait for the market to recover.
This is what is happening now, because there is NO reason for this sudden drop in the price? Hold onto those coins as long as you can, because these greedy bastards will manipulate the markets to cause chaos and panic.
The price manipulation theory (or some might even prefer the more cliche conspiracy) has always been an intriguing part of the bitcoin economy. And the more negative it sounds, the more people believe in it. Yet, till date, there are no solid proof of the so called price manipulation.
I'm not trying to regress your opinion on this Kakmakr, but a factual evidence presented here will be a redeeming voucher for your statement.
Imagine how much bitcoin needs to be dumped all at the same time to stage a price crash? We are talking about a global market, remember. This is not a localized community's manipulation of strength, but a world-wide phenomena that needs to be triggered. And the so-called whales needs to be in consensus for this to happen.
Instead of focusing on the price manipulation theory, let us try to understand how altcoins has been affecting bitcoin investment instead. This is a factual reason why others are selling instead of hodling, they saw the potentials behind altcoins and has been slowly transferring their portfolios from btc to alts. And this is an undeniable truth as evident from the coinmarketcap's graph movement.
Not all coins are bought on regulated exchanges, so the dump might come from different methods of buying.
Your Alt coin theory also makes no sense, because Alt coin conversion to BTC and then Fiat add to it's volume and then it drops with the same amount, so it should not drop lower than the average BTC holdings.
Alt coin and Bitcoin prices are dropping at the same time now and I find that strage. If only Alt coin prices dropped and Bitcoin prices increased, then we would know that it was a Alt coin dump, but both are dropping now. 
