This is because the Bitcoin and Altcoin holders are easy to believed to FUD making them to panic of selling their Cryptos. Actually, the big whales will trigger the selling together with the FUD news and making the people to panic that if the price successfully down then the big whales will buy it again. I just hope that soon, many will learn about this strategy of market manipulation in which ETF is our only hope.
You are right, this is because of the weak hands that always believes fud without knowing and searching that this is only a strategy to manipulate cryto price.
Market makers create FUD in order for them to buy at low price then sell at high price. I think bitcoin going down because of the continuous uptrend of 2017. And this down is only a correction and partly a manipulation of those people who have plenty bitcoin. Its been 9months of downtrend for whole cryptocurrency but I see a glimpse of hope for the next 3 months because of what happen last year. Approve or disapprove of BTC etf? Bitcoin will still survive.