The price typically decreases when bad things happen to a coin or media fabricates bad news about a coin and a portion of investors take it seriously. The cryptocurrency market is as unregulated as it can get. It’s no surprise that big players are manipulating the markets for their own gain. It’s no longer rare for people to run bots to buy and sell cryptocurrencies. Amateur investors, on the other hand, want to make quick profits. Once the price starts falling, these investors tend to panic sell. The combination of market manipulation and panic selling may be a reason behind the current price fall.