Maybe its because cryptocurrency market still unregulated. If regulated, i think market movement will more calm and not too volatile.
It was always unregulated and have been a target for pump and dumps. They are methods that whales do to make money from feeding of small cap traders but there people should be careful that a regulated market would not happen anytime soon at least not before an ETF comes in from SEC. So false hope should not be lodged in their minds.
I am agree that we should not panic with current condition, crypto is long term investment
The last few days have been rather a good run for bitcoin and altcoins. We did reach the uptrend and lets see how it holds out in future this month end.