I have not ever seen the whole market under red signals.
Bitcoin now $8049,
Ethereum now $816. Its probably going low.
Is there any chance to go it under $600?
If its gone, then it will crash a lot as from my thinking.
It is really disaster for market, if talking possibility then everything is possible. It depends on the market psychology as this crypto market has smaller market then fiat. Back to economy principle, supply and demand is definitive. It is lot of supply, more people sell their coins to receive fiat. Market are influenced by news and also any restrictions made by some countries. I believe this crypto will go to buy trend again but it will need time to recovery.