This uncertainty has a reason that is different from what we're used to. The price drop is not caused by regular pump and dump, what can be overcome. This is really serious. Investors are afraid that cryptocurrencies will no longer be decentralized, because of the worldwide regulations that governments will come with very soon. Cryptocurrencies will be taxed and centralized and that is scary to most investors who prefer decentralized currencies.
Centralization of the crypto currencies is not an easy going task. that is the main reason governments of most of the countries do not take up the task of legalizing bitcoin because they very well know it is out of their normal pursuits, which will be ultimately becoming a burden for them. But whatever the decisions most of the governments take up for bitcoin acceptability, it will accept the price of the bitcoin on an overall basis. You must have seen the FUD created by the media channels recently relating to this. I don't think investors are really afraid of the government regulation. Because if you see countries like Japan, Philippines and others openly welcoming bitcoin, you will see how well they have flourished in the crypto markets. So I don't really think that is a problem.