Let's just estimate and assume that you are a newbie. To give you an idea, this drop never happened once and today only. If you will take a look with the recent months there has been bigger drop that made the history of crypto repeat because there's significant drop that also occurred on 2013.
But I think the volatility is scaring new investors and can potential kill crypto in the long run.
Volatility is making the crypto alive and this won't kill itself unless it goes to zero.