First of all, I am certain this has not been the worst year for Bitcoin prices. I believe 2011 was worse. But most likely, many people on this platform were not dealing in Bitcoins in 2011. Now let's talk about the reason for price drops. I think I disagree with you here too. Placing the reason behind a bad year for Bitcoins on the large number of ICOs is rather inaccurate economics. It is clear that there were a number of peculiar factors that came into play this year. I think lazy investors too are contributing to this issue. If everyone does proper research before investment, the market will actually flourish more.
We have surely had worse years in the past and most of the people complaining now are the new investors who were busy shouting moon and buying at the peaks last year, with those who have the experience sharing how much the market is just being manipulated based on speculations and why new investors should be relaxed, but they were instead tongue lashed for their pessimism.
The market is a very volatile one and for the fact that we had a push up for no reason which could not sustain itself, little things makes it drop fast, but based on past happenings, nothing goes up without coming down and vice versa.