It was effect of all the development that ADA just went upwards and many people got liquidated. This recent spike effected badly traders those were playing with ADA of similar highly potential coins continuously. Some of my close friends are repenting why they sold at around 1300 satoshi and are awaiting anxiously for another chance.
There is very simple method crypto is not for day traders in first attempt of rise majority of the people just got rekt. Actually it's for long term Hodlers who believe in the future of any project no doubt Cardano will be best project in coming days.