I think it manipulations from big wheels, they want to be much bigger, so such behaviour could ends very sad for us, who believe in crypto currency!
i do believe the same thing, manipulation that done by whales make another investors panic and they sold all cryptocurrency asset they have. this is condition many times happen , the bottom looks like still not in.
This is not the first time that this story has been repeated. If a person does not have all the savings in the crypt, then I see no reason to panic at all, but yes, the story is extremely depressing.