In 2018 cryptocurrency demand was choked.
No it didn't really choked but it's a usual bear market that has to pass through.
As Bitcoin supply overwhelmed demand, the price of Bitcoin and other cryptos fell while the big players were quietly accumulating a position.
That's how real investors that sees nice market for a new emerging industry. They were just getting their position properly and don't have to broadcast it to the public that they've been accumulating because it's the right time to do it. Until now, you can see on the news that many of them are doing it.