One of the groups that the price drops are hurting the most are the miners. In some areas it's not even profitable to mine if you're selling right away. You might get your money back if you hold until it goes up, but for now things aren't looking good.
I was hoping that Steem was going to drop below $1 and I was thinking of picking some up.
I'm still opposed to a bunch of regulations on cryptos. I think that's going to slow the progress of crypto, but that's just my opinion.
I heard that the price of Bitcoin was being propped up by Tether. Any time the price of BTC was dropping in major ways, a bunch more tethers were printed and used to buy BTC. That was from a University of Texas, Austin study.
https://www.coindesk.com/study-claims-tether-props-bitcoins-price-in-market-downturns/