I'm afraid that now China, and after some other State, will begin to regulate cryptovalues. Obviously they will not do anything for the benefit of the people but all for the benefit of them, the State. They now have no control over anything ... surely there will be some state that will hurt and some State less but with taxes on taxes ... they will certainly not make crypto life easy. I just hope they let breathe the market for other few month before start tilting at windmills... which might lead to breaking legs to speculation or anyway the growth as we know it today.
The correction in price is overdue now. China and regulation is only the trigger. There will be more.
Prices of cryptos can fall by 80% in the next year or so, but it is just a natural cycle.It has happened before.
You said that right. Price of Cryptos, not price of Bitcoin. I doubt BTC will go under $1000 but whole Crypto market cap can get on 20% from ATH. BTC was simply undervalued a year ago.