Dips of this magnitude have happened a few times in the past. After each historical drop, the market seems to hibernate as a consensus needs to re-develop as to what the price should be. At the moment, way too many people have been burned and a negative network effect is likely to ensue as stories of people losing thousands hit the airwaves. Regardless, this is not to say that crypto will not rally again. I think it just needs months, if not years, for the technology to develop to a commercial standard and interest to pickup again.
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