Hey, I have some moderate experience over this crypto world. Why the market is extensively volatile. Alike traditional market does crypto too impacted of many major changes.
From my experience, the volatilty is present due to lack of trust in the industry. People are new to the cryptocurency technology and often wondered its applications and relevance. This uncertainty coupled with ico fraud causes the dumps which may easily result from FUD caused by media channels. People need to stop losing money seeing real life applications of cryptocurrency to trust the system more