Yep we have been here before. 1300 to 230, 21000 to 3000 now 64000 to 38000 maybe more. This is crypto while some will blame Elon for this, I think its a lot of factors. Markets arent what they used to be. The heavy investors were bound to take profit and were waiting for the peek for market sentiments to be all bullish before doing a dump. This I believe also promoted the bots to start selling rather than buying. How long it will fall only time will tell but the newbies will be burnt and wont realize that these are the buying times not the selling times. Or the holding times. The way I see it is that if you can hodl strong you should invest otherwise just exit the market now before further blood bath. This time around I had a bit of diversification hence the drop doesent seem so bad. As you can see from the above these are the coins I a following and have some stake in. Even diversification doesn't save you from the the blood bath thats happening now. But you must realize the people who survive these are the ones that will benefit in the next bull run.
This is not financial advise the markets will go up and down like they always do. No one can predict the future. However my thoughts are based on my view as per history of this market... Lets see what the future holds.