I was astonished to see the massive dip because there wasn't really a strong FUD to initiate it. It took most of us unawares. The best strategy to apply now is holding the coins on your portfolio and accumulating more at intervals as they dip further. It won't take long before the market will experience an uptrend in my opinion. I am presently holding BTC, ETH, XLM, BCH, BNB which dipped with great margin but this doesn't call for panic selling. The more people panic sell, the more the dip continues.
I am not a specialist but I guess the Bakkt launch affected these "downs". This situation cannot last for a long time, and now, the crypto winter might not come as it happened in 2018 (it is not yet time for it). It is sad to see that Ethereum we believe in is following Bitcoin now going down, but the patience will help here only. Probably, it is better now to take a break to understand the situation better.