The reason for that in fact is very simple, and it's called market economy. Price goes down because more people are happy to sell than people who are happy to buy. So why are more people happy to sell than people who are happy to buy? One of the reasons probably is that all those who bought the coin early when it was just priced a handful of stats and failed to sell all their bags at ATH are still having a profit to sell EVEN after such a huge drop.