Good chart! However, in general, the total market cap is down from $825b in December to $455b today. That's around 45% decrease from the ATH. In short, it was a bloodbath. Let's just hope that February will be a different story.
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When you look at something from month to month you get a pretty distorted view. Just look at a 12 month graph and nothing looks weird at all. All things that goes up fast in nature must come down fast. That's how it works everywhere. Making money in this industry will take at least 2 years of long term investment and be ready to lose it all. But the industry is growing so lose all seem highly unlikely. More realistic approach is that it will slowly during a 3 year period rise.
You're absolutely correct. It's just that people forget that the total market cap is still higher by more than 2000% since last year which makes them panic sell and spread FUD. This make big investors very skeptical of this kind of market.