I read some news this last week, and there is some indication of wash trading and spoofing going on, so the prices are dropping.
Do you think this is the reason, or the movements of the market are normal ?
There are many things that can affect the price of the cryptocurrency,fake news ,big whales and any type of hype can affect the value either good or bad,so before you dismiss something as hype,remember that hype moves markets too.
Price drops if people buying rate reduces and decreases which has direct affect on the value if Bitcoin and similarly other coins also act the same and alters with their demands.
The current market indicates that demand rate has decreased which has brought decrease in value of Bitcoin and will improve surly if the demand rate increases. People are worried about it but they should wait for the price to go high with increase in demand rate.