Dropped from $600/month to $50

Do not get disappointed. It seems that Google has penalized your website. All you have to do is to find new sources of traffic. You should try to diversify the traffic sources in future.
 
Now that you've gotten over the hump of making $600 a month, now you can do it again. Simply repeat the process for more sites and more niches to avoid having all of your source of income coming from just one site.
 
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