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.
I dont really know why the market is at its current state, I have seen people come up with lots of reasons as to why the market is as it is now, but dont you think its time they stop giving us reasons as to why things are like this and tell us what to do to make the market good again? I already knew that the market will drop from the $19k of last year to a low price thats why I withdrew everything I had.
I saw people say that the price rate of coins in the market are too high and that they will corrected this year so I believe thats what happened.
That's the reason why the market situation during this years very sad when we see is due to the many negative news circulating that attacks the Bitcoin so make investors pull back their assets, panic sell, and definitely make the prices Bitcoin fall along with the price of other crypto.