This isn't a sudden dump, it was predicted to take place. As the price rebounced reaching a value of $13000+ the market was crowded by investors. Further the drop of investment has lead to the fall that we're experiencing. This can be considered a price correction and might fall even low, it is good to use the opportunity to profit as there is increased chance of price pumping soon.
We saw that with a help of technical analysis though its pretty fast to dump we should still not panic because the best price will still come. If you look at the market with bitcoin it is still strong at a cheaper price again its good to hold. Profit taking will dump the market but it cant kill any trend right now with bitcoin.