Yes, you are right, the current market for crypto is indeed a shortage of investors. Many investors currently cease to invest because many coin scam and the price is getting crashed. So they will wait until the price is stable and coins back to invest.
There's no report that could prove whether it's the people that's getting out of the train or just the market capitalisation decrease because the price of coins decreasing at the same time also means the flowing money decrease.
But as people said, the hype is gone, now it'll be as usual like kickstarter, crowdfunding or IPO. I guess it's very normal considering that it cant always get hyped up forever.