The Crypto Crash on repeat

So I’ve read numerous reports from a number of crypto channels and they all pretty much say that a downward trend is followed by panic selling. And cite the possibles usually big news like the recent story on Coinbase sending all American holders an IRS tax form, so why the huge drop in prices who are selling and why?

So I thought ok some US sellers will need to to pay there tax, but surely they would only need to pay the tax when they receive that money? Or are there so many Americans claiming to be on the bread line that there crytpo gains now make them Rich and they have to support them selfs, that being said surely this wouldn’t account for a 30% swing.

My final thought was people buying into ICO’s and these companies withdrawing that holding into cash like a back door Western Union

Given all the positive news on some of the bigger cryptos it just doesn’t make sense.

I’m hodl let’s start to see an upturn