Am I right that bitcoin's downturn is linked to the SEC requesting oversight on exchanges? We can see that all the alt-coins are tightly linked to BTC and when any little nudge forces the value down .. well it's certainly a rollercoaster.

It says a lot about the precarious position of crypto that any move by the feds/big banks to regulate causes a crash in value. And it's ironic considering the SEC is pretty toothless with the coming legislation rolling back Dodd-Frank .. basically the big boys ir Goldman Sachs etc can do whatever the hell they want and the little fish have to get in line.