For people who did enter the cryptoworld from, lets say, the fall of 2017, it loos lle a crash. They never experieced a minthwith so many red days!
So a panic reaction is normal, causing more red days.
When they start reading, they read that you have to buy the dip, but each dip is followed by a deeper dip. So they loose trust and faith, withdrawing their money from the cryptoworld.
It looks like an endless circle. It takes time to break this circle and if the circle isn’t broken in time, we will see a major crash! Luckely there are a lot of whales who will not profit from such a crash, we they have pilled enough cheap coins, the market could rise again.