Well the markets reached all time highs recently so this is expected. I was expecting it to crash a lot lower after the China sell off last month, but we recovered and reached new time highs.
since you are posting in altcoin board you are talking about altcoin market. and it crashed only because it was pumped and pumps lead to bubbles which need to burst. and now they are bursting. Chin had nothing to do with it.
as for bitcoin, the Chinese news only was a temporary FUD that came and gone. only those who have brain make profit.
I think another crash is bound to happen again. I mean just the beginning of the year Bitcoin was at $300 and Ethereum was $5, now just a few months later look at the prices. There has to be a correction, and that time is now. What do you think?
at the beginning of the year bitcoin was nearly $1100 and also no country had yet adopted it. no country had removed taxes on bitcoin either.
but now multiple countries like Japan adopted bitcoin and also removed taxes on bitcoin. that leads to real adoption and real demand that causes this price rise.
ETH on the other hand is severely pumped for no reason. only because a ton of ICOs were created on it and as soon as they stop, the price drops hard.