Holy Crap! What's Causing the Massive Sell-Off in Crypto?

I was just leisurely browsing through Coin Market cap and saw insane declines on all the coins. Steem down to $.60! I'm looking around for news or rumors that could cause such sell-offs and most are saying it's the upcoming Bitcoin Cash hard fork.

Why?

I can understand Bitcoin affecting the overall market but a hard-fork of Bitcoin Cash? WTF? There has to be something else at play here.

Any opinions?

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