Such volatility doesn't mean anything. The true value of cryptocurrency lies in a strong foundation (which requires user-friendly decentralized marketplaces where we can use cryptocurrency, and added security in the form of escrow systems) which will be made possible with the upcoming ICO's.
They're not all scams!
That is absolutely true, not all ICOs are scam but the thing is, the developer of some projects tend to abandoned their project in this bearish time thus leaving their investors in pain of losing money. Volatility is an opportunity but we should be careful not to fall into a trap just like some of those shitcoins that initially have high value but at the end it almost drop to zero.