I'm borrowing this chart from 
Look at this. We have fallen through the 61,8 Fibonacci Retracement level, which is a significant level. We are also on the way of falling through the long term bullish trend channel which has held four times in the past.
Volumes are increasing as people dump not only Bitcoin, but cryptos as a whole. Bitcoin is actually gaining it's dominance against altcoins. So this is a massacre and a run out of cryptos in general.
This is of course dramatic. But we have to be pragmatic and look at this like investors and not panic stricken traders.
Has anything happened that is very bearish? Has any western country banned cryptos? Has there been a security breach of significance? Is the fiat currency old system going much better now? Is the debt under control?
The answer to all of this and more is of course NO.
If anything there are very positive signals out there. The crytpo projects are working on their projects, nothing has changed only perhaps for the better since December 2017.
So what explains this fall?
As major investors and institutions are considering to enter cryptos, rest assure there will be manipulation. MANY crypto-hodlers are young and inexperienced in the markets. Many has never experienced a shakeout before. So this is one of the reasons the markets are volatile. There are a lot of rotten fruit so to speak, and when you shake the tree, well..they fall down.
Today, when Bitcoin falls 10%, that is a fall of $800 USD. What was the price of Bitcoin for less than two years ago? Less than $200 USD. So today we fell more than 4 times the total price of Bitcoin in late 2016. Fast forward two years..we might see the same thing again. Bitcoin just dropped $8000 USD from $80,000 to $72,000. Panic in the markets..
Also, keep in mind that a lot of people lose money in this game. A LOT of people lose money. More than in stocks. Cryptos has a "reputation" I suppose as easy money. But in fact, the "easy" money part of it attracts gamblers and inexperienced people. More people lose money in cryptos than in any other investment. Last year most of Bitcoin's gains came from 5 days! 5 very bullish days. If you did 5 wrong trades, as I'm sure many did..you could very well have ended up making zero gainz in 2017.
Sum It Up Allready
So to sum it up. There are no bad news, institutions are looking to get it, and we know for a fact that many in cryptos are inexperienced traders/investors. I think this is a shakeout. I don't think cryptos is dead. I don't understand how it can be. I hear a lot of people talk about how they love Blockchain technology but don't like Bitcoin..well..the tokens are what fuels Blockchain. And Bitcoin is the token. Bitcoin is the prototype. So sure, go ahead and don't like Bitcoin, but if you like blockchain you must like certain tokens. And in the future, I strongly believe that many of these tokens will be worth a lot of money. Many will be worthless. But if you have a solid portfolio - and is able to hold and acumulate through this period..I think there is a very good chance you'll enjoy yourself in a years time.
But that being said..I think it's time to put on the patience glasses. This could take some time guys.