September 1 started the sell-off and it was immediately after BitCoin shot up to $5,000, but the first drop stabilized at around $4,500.... if I remember correctly.
After that it was the China ICO-news, which wasn't flat-out lies but it was very overblown by very bad writers who took it and embellished it to get website traffic.... suddenly it turned into "China Is Shutting down crypto."
That's when crypto started showing an aggressive sell-off in ALL markets - and more-so in the Asian coins and those built on ICOs.
Then China's fake news-industry saw how much webt-traffic they can get off Crypto FUD.. so they began releasing all-out-crazy stuff.
Then The Wall Street Journal used Google-translate to read and report on one of these fake-news articles and Crypto was officially on a major sell-off.
Now... JP Morgan and the people who destroyed the economy in 2008 and many years prior have something to say.... These people caused many thousands of Americans to lose their jobs and homes... Who gives a damn what they say?
Ya know why they're doing this?
More and more investors were, and still are, looking into making at-least some of their portfolio include crypto... and it's more and more as old investors die off and young investors come in.
With more going into Crypto - less is going into Wall Street and they're panicking about it.