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 agree with most of your views. This year a large number of new entrants have entered the cryptocurrency market. When there was bad news about bitcoin, they panicked and sold their bitcoins. But I don't think they have a particular impact, and new people don't have too many bitcoins. No one knows if bitcoin will collapse, and it is not good news for bitcoin that many countries now ban bitcoins from trading 。