Apart from the FUDs, why market dropped significantly ?
The main cause is the huge rise during December, which was largely due to newcomers buying into crypto for the first time. The rise was clearly unsustainable and we needed a pullback at some point.
The various bits of bad news during January were enough to trigger the fall. The fall was then much harder than usual because as soon as the price dropped, the newcomers had lost money - I think this caused a lot of panic selling to cut their losses. This caused the prices to dip sharply. And then the experienced traders moved in, taking the opportunity to short their coins and pick up more, which caused prices to drop further.
Just my opinion of course, and unfortunately the newcomers are probably the big victims of the price drop.
I think what we really need now is a period of stability to prepare us for the next rise. I don't want to see a big rise now, as it would likely end with another drop. Gradual rises are often better
