Cryptos are facing such downfall because there are too many rumors negatively about cryptos. People are easy to get panicked and sell their cryptos on lower price and it caused a hard dump. The cryptos will recovery after this downfall.
In such instances, crypto really making a bad movements when more panic investors buy the fuds and sellout what they've got, the downfall will continue as more and more newbies are not working hard to learn more about this industry, as long as there's still strong holders the cycle will continue and outcome will still positive.