In 2017, we observed the period of the hype, now it is slowing down. At this rate, we simply go out to the bear bitcoin market. The change of paradigms in the crypto-currency market is quite normal. The bitcoin rate can not be linear. But it also can`t take new heights every day. The change in the price of bitcoin should be assessed at least for an annual period, rather than comparing the current rate with the maximum value.
I think the big part of that is the support it gained from the masses. Back in 2017, many people are still in the phase of recognizing Bitcoin and other cryptocurrencies, and so, they amount of attention and enthusiasm they show for it is just off the roof as compared to these days where they have already seen how negative and devastating it could be not only to your morale as an investor, but literally, to you investment and lodged in capital. Thus, some have already given up, and some have already become more cautious.