I think the point about human psychology is a good one. Fear and greed are two of the strongest forces in any market. This chart - "Stages of a Bubble" - might be useful in understanding the swings in the market over time: https://people.hofstra.edu/geotrans/eng/ch7en/conc7en/stages_in_a_bubble.html

Anyway, if it makes you feel any better... The U.S. stock market is doing poorly also. It had a bad day Friday and suffered a historic loss Monday, and now people today are very concerned about where it's headed. As I understand European and Asian markets are also down considerably... The point is: it's not much safer taking money out of crypto now and putting it into other investments. (<-- not official investment advice)