What's happening?
First of all, as you maybe know the SEC (Securities and Exchange Commission) wants to regulate the cryptos exchanges/markets to fight money laundering. The problem is that everybody is in a panic situation, some people got their assets frozen, and some others, of course, use cryptos for money laundering, so it's normal that they are selling... Who wants to get caught, right?
The problem is that cryptos are going mainstream right now, and a lot of big organizations are interested in it. But you will say... Why is it an issue? I just wanna tell you that, at first, Bitcoin wasn't created to go mainstream, it was an "underground" project, where decentralization and "anonymity" were the main goals. Regulations don't have their places in the cryptosphere, why should you use them if it becomes totally transparent (KYC) and regulated? That's what a lot of people are saying to themselves. But that's not he only controversy right now.
Turkey controversy
Recently, Turkey banned bitcoin payments due to his volatility and because of a big exchange scam of 2 billion in BTC (the typical exchange scam). This recent event was extremely mediatised in Europe and it could be one of the reasons of the panic sell in the EU.
Crypto taxes
Many different countries are introducing crypto taxes right now, it's almost 30% of your benefit that you will be obliged to give to your state... (It depends on your country)
Conclusion
Cryptocurrency markets are constantly growing and the fact that it goes mainstream is of course a good thing, but it's also totally against the original Bitcoin goal, and most of the fanatics don't really agree with all these new taxes, Regulations,... So keep an eye on the market, read the news, inform youself, and stay calm.
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