I think that it most certainly is as a result of the second hard fork. Ethereum has so many flaws (security issues) and has gone through so many controversies, that maybe this has resulted in many investors to get out of ETH. Also, ETC's price is declining but in the bright side I hope that ETH becomes stronger after all of these past events.

I think that it would be wise to buy a few ETH while this happens. Maybe then, after all of this is solved prices could go all the way up again. Just sharing my opinion.