Absolutely, coupled with Crypto being so easy to move and sell as opposed to other assets, must cause huge volatility as investors and speculators see the news, it is easy to sell almost instantly and just as easy to buy up on the dips.
It's great that all of that FUD has been priced in and it bounced of the 6k region, getting no where near jan 2017 territory. some stability now in price will send some good signals to investors also as regulations come into place, creating a safer environment for big funds and whales, there is even talk of central banks considering adding small positions as well.