the collapsing market is simply just the consequence of the world getting fed up with the attentionhack, i am quite sure we will witness a market collapse if this will not change
the world is mostly just spectating and doesn't care what the crypto market does.
the collapse was a natural consequence of the irrationally bullish run-up in 2017. price had been completely divorced from fundamentals. now we're just experiencing the next phase in the market cycle, where price returns to the mean. it has more to do with profit taking by earlier adopters and capitulation by late adopters than anything else.