Current year has been bit worst for crypto coins. Apart from values, we have ICOs in the market with best projects. So what happened is the investment spill over too many ICOs and thus bitcoin value remained below $6.5K . This is another reason for all altcoins values remain under a threshold. Hope we have more investors pitch in investing into bitcoin.
There are lot of alternative coins that is truly useless as "shitcoins". For the reason of slow development and worst case scenario is there's no real product or service at all. After finishing the pre-sale and ICO...and having a funds from different investors, the team went missing and no one knows what will happen next. This is the common way why the market is down and decreasing the liability of crypto currencies around the globe. So , the less money and investor comes, the less opportunity to crypto market expand or grow.
In my opinion the main reason for bitcoin red market is market manipulation. Big investors which are called whales manipulate the market and that is not good for small investors. The result is that the investment capital became low and the price downs more than expectations. Now the only way to overcome this bearish situation of the market, we will have to increase the investment capital.