They might have caused a little bit of it. If you are interested you can check out my YouTube video that I made today talking about the red market https://www.youtube.com/watch?v=zE3IhsSrAOg&t=0s
Good description and informative video.
What i assumed if any bad news comes like recent news of Bitthumb and Coinone trading sites , It was clear they were raided the office for Income Tax not for cryptocurrency trading. But Hoax was there they are going to raid due to Cryptocurrency. But later authorities cleared the image they just raid the office due to Income Tax not because of dealing with Cryptocurrency.
And usually newbie got panic and started dumping there hard earned bitcoins.
