Most of the people who joined the crypto community at the later part of 2017, especially December were not any real crypto investors. They just heard about the booming prices and decided to join and also make profit. They don't know the potentials of the blockchain technology and the future it holds and that is why now that prices are down, they have all left the market and its left the real crypto enthusiasts. They are those who are seriously doing panic selling over the markets
Of course, it is just all about the hype that happened back then, and a lot of people already got out of the market and the one that are left are those people who awaits the new rally.