Most coins have lost 50 to 80% of their value, many tokens that were financed with expensive ether may now have their funding reduced due to their holdings. Do you think many of the ICOs have sold their ether and bitcoin during the last months? What other factors are making the market go steadily down?
This correction was bound to happen after we saw the dramatic rise in prices from $7000 to $20000 in just few days. These coins should rise back now.