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I go through this pretty often being in the SEO game for 20 years. First off, login to your google webmaster account to see if your being penalized for something (usually thin content). If so, make changes to fix the issue, get reconsidered. If there's no penalty on your account, then freshen up on your SEO. Get better backlinks, develop more content, etc.
Lastly, keep building, make new sites, interlink the old sites to the new sites and keep growing and adapting. Don't let the drop in traffic get to you. It's a cat and mouse game and Google just took back their traffic. One up their game and find a way to get it back and keep repeating.
Good luck.
WG
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I play with Google.
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