Yes, it is, it scares off new investors, I think the whales want it at the moment.When it becomes profitable for them to grow the market it will go to the top, they have billions of dollars in budgets for advertising !
They are no investors if it "scares them away". Investors enter into new markets because they are willing to take the risk and the reward. Then if people are making money from it, more investors flock in. But this does not end up in organic growth since the weak trembling fingers point towards the sell button very quickly when the market becomes red. In my opinion those are not the real investors but newbies who got into the market to make some quick cash. NO PANIC-SELLING PLEAASEEEE!
Sadly it will happen again and again even if we try to calm their tits. 