I agree with you, this 2018 is not really a good year for crypto, unlike last year, by this time everything is going up, and i think the people that benefited are the ones that did investment in the space earlier, so i think now is another good opportunity but i will still wait a little bit for the market to recover.
BTC prices are still well above levels from early 2017, so you're right maybe some investors are cashing out now, even if I don't think it's very wise for them after BTC decreased almost 80%. Early investors are knowing well all previous hypes from 2011, 2013 and 2014. Price always recovered again. I'm not sure if many of them sell, market is crashing more due to weak hands selling off.