It's unfortunate and infuriating that fake news can result in sharp drops that take away millions in market cap value. Many people - especially those who are overextended or/and bought at the higher end - would have panicked and sold to cut loss. And thereby creating a cascading effect.

But since we can't do much about how others react, the next best thing to do is to try and benefit. This may sound opportunistic but it's more of trying to make lemonade from the fake news lemon. We should have a list of quality coins and tokens we have researched beforehand. During sudden sharp drops, that's an opportunity to buy. Based on previous observations, the coins tend to rebound after that. But set a stop-loss level too, in case the market continues to drop. Preserving capital is paramount.