Despite all the losses, the total market cap for all cryptos is the same it was 23 days ago.

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When the stock market has a big crash, it's often set back YEARS. In the 2008 stock market crash, the S&P 500 went back to the value it had 10 YEARS ago.

Crypto has been set back 23 days.

An equivalent 23-day setback on the stock market would mean a drop of about 3%. Can you imagine the news freaking out about a 3% drop?

I see nothing to worry about, just normal fluctuations in a healthy (but volatile) market. I bet in a few months the market cap will be back to where it was. What can be done and undone in 23 days can be redone again in 23 days. There's too much overall momentum toward cryptos, even if a 23-day bubble is popping. It's not a 10-year bubble. This is the thing people have to realize.

Let's imagine, even if (worst case) the whole crypto market cut in half again on top of where we are now, we'd only be set back to late November, about 50 days ago. Internet money is simply useful, and that's not going to change. And we're clearly still at the front(ish) end of the mass adoption curve. These two things are the bedrock of the investment in to cryptocurrencies, and those things haven't changed.

If you were to panic sell now, I'm guessing in about a couple months you will be regretting it. Almost certainly in a few years you will be regretting it. Imagine cryptos going up another 1000% (which it has, more than once over the years) and you sold because you got cold feet after a 20% movement. A 23-day bubble is not worth being emotional about if you're a long-term investor, which is generally the smartest and lowest-risk way to invest.

Plus we have no way of knowing how much of this is just one whale getting in and out of the market to create profitable price swings. That can (and probably will) happen again.

The ocean isn't draining because we're at the low point of a big wave. There will be other waves, and other high points. It's just a matter of patience. As long as the two bedrock principles of why to invest in crypto are still in place (people want internet money, and we are in early adoption phase) I see no reason to sell.