> This is crypto logic. In 'real' stocks this will be called a collapse for today or at least an extremely wild ride.

It is a wild ride. The reason this is a correction and not a collapse can be easily understood if you zoom out your charts enough so that you can see the ancient times of November 2017.

It's just a matter of volatility. If a stock drops by 15-20% once a month, a correction is not called a collapse. If it never moves more than 2-3% per day, a 15% drop causes panic.

BTC is by far the most volatile asset at the moment (excluding other crypto currencies and some exotic real currencies). I think the reason people talk about crashes so quickly is that no one has a clue what's going on. Is it a broad-based move? Is it a few speculators? Is it a conspiracy? For stocks, at least the regulator knows very quickly who sold and if there's something fishy going on. For BTC, no one knows which makes it more confusing.

There are a bunch of coins that lost over 20% in 24h, and the 7d-situation looks even worse with even huge coins like Ripple taking a 45% drop in value.

according to reuters, "Bitcoin extends slide to trade down 18 percent on day at $11,191 on Bitstamp Exchange, on track for biggest one-day fall in three years" - so, pretty significant move.

Below 11.5k now and picking up speed.