But what is the actual reason behind this vast fall?
It can be this incident.
Coinrail Exchange Hacked, Loses Possibly $40 Million in CryptosMy friends are laughing at me, who sold their bitcoin when it was 14K USD! That time I told them you guys are doing wrong, Hold your bitcoin, Bitcoin Price will rise again. And now I am regretting really

What you feeling isn't different to most of the holders here.
Let them laugh for now if they have sold at $14,000 and if they are thinking that they are in profit now. Just don't think about them, focus on your holding.
It seems to me that the hacking of the exchanger can not affect the price of bitcoin. The news that somewhere hacked the exchange will not make me sell coins at a low price. It's stupid. I do not see a large increase in trading volume on the exchanges. The demand has nothing to do with the current decline in prices. This is speculation.