I think all the newcomers (newbies) are now leaving the market with panic selling and that's what is keeping the downfall of course the bad news about bitcoins also helped.
I'm sure bitcoin and most of crypto currencies will never crash don't forget the drug market that is running on bitcoin they will NEVER let bitcoin crash.
maybe this year's downfall is more than any year because the Chinese holiday (which is normal every year) but the new thing this year is that a lot of new people joined the market who have absolutely no experience with bitcoins so they are panicking. so the Chinese and the new traders together are making a huge impact on the market , bigger than any other year.
I'm a newbie as well so if I have a wrong thought or thinking in a wrong way please correct me.
thanks.
I do not think that new comers have affected the price of bitcoin, if there are people leaving there are always new joining as well.
For the Bitcoin and the drug market this is just a conspiracy theory. There is no proof that they are using Bitcoin or any other coins.
Big holidays also affect the market because a lot of people will cash out their profit.