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
I think that not all weak hands left the market. Many people are at the limit. I am sure that the potential for panic sales is still very high. The fewer the players, the easier it is to manage the market. Prices will continue to fall soon. This year, nothing good will happen.