It seems that the absurdity of the past week "BCH fork" due to greed led to this decline and then altcoin dump could cause more losses in the short term "this week."
I expect that whatever happens $ 4,200 will be the bottom but things are not so bad "the price will recover quickly."
If it was the Bcash drama causing this decline, people would dump their BTC and park their funds in altcoins, which isn't happening. It's panic of the purest form that takes the price down. This is crypto. Welcome.
The bottom isn't what people think it will be, because remember, the market doesn't repeat if the mass expects it to repeat. The bottom will be known by the time we're going back up again.
People panic but don't realize how much of a buying opportunity these dumps are. I'm sure they'll get back in, but that will be on the way up, where they always find themselves enter the market at the wrong time.
The BCash drama has as an impact on Bitcoin the moment they start extracting hashrate from Bitcoin to put it into the BCash fork, whatever it is (I think ABC in this case, the bastard scammer Roger Ver was allocating hashrate from Cloud Mining contracts in his Bitcoin dot com pool to mine the ABC scam).
If these guys keep scamming people with their shitcoins I really hope someone with the resources makes them pay. They must pay the price of screwing up people's money with their experiments.