''What goes up must come down'' - Natural
If you are holding great coins like Veri and PPT, this bear market does not effect you...
But most of the people here did not even heard of them yet, but everyone will in a few weeks ( VERI is already big )...
So yeah this is just people taking profits ( wales have this effect ) , like others said !
By this analogy we would expect BTC to come back on 1$, which is not possible. They taking profit all the time.
It may be due to segwit2x/UASF thing and may go down to $1000
Why should this be cause? More likely greed is behind all of this.
SegWith is solution for problems and will not be activated till November, all this panic is more due to fork which are normal thing in Crypto, and very rarely influencing market this way.