Blame China
I swear to god this is a get rich scheme. They started seeing BC being sold off before china announced the ban. China was heavily invested in BC so seems like they either
1. sold off all shares before the ban came in order to genuinely make back their money before they are stuck with a useless commodity
2. intentionally sell fast to crash the value, for them to buy up again at a later stage.
Im glad this cryptocurrency bubble has burst. It's not being used for what it was intended and became a Get Rich fast scheme.