This is the typical perfect storm

1. Either 5th or 10th of each month, company does pay roll, we see big dump all across the minor alts
2. Chinese new year is schedule for mid feb this year, they are preparing for end of year bonus packages
3. Bitcoin rose up, good time to do exchange
4. Swingers are starting to enter bearish market after peak, this is quite normal and it has happened to BTC. 

Unfortunately, we don't have evil twins to keep eyes on the big holders.  Therefore the rate of recovery most likely will take place after the chinese new year.

Good time to buy though