The price keeps nose diving because there are more sellers than buyers. Why are there more sellers than buyers? Because there hasn't been much positive (if any) news about Bitcoin for most of the year...people are bored.
I think it might be because of federal prosecutors launching a criminal probe into the cryptocurrencies earlier this year, but why?
What prosecutors? What criminal probe? In what country? When you speak in such generalities you don't help us engage in your discussion.
He must be talking about that article that I saw somewhere about prosecutors going after Bitfinex again for tether manipulation. While I'd like tether to just disappear because there's too much stink hovering around it, people going after tether is not people going after Bitcoin otr cryptocurrencies in general.