A couple of interesting quotes from this article.
Perhaps the crypto market is being manipulated.
But that raises the questions of who & why.
I can't see anyone in the industry trying to kill it off by dumping the prices of the whole market.
So an obvious conclusion to me is it is someone outside the industry.
Who has the most to gain or greatest need to see the industry fail?
And that answers the question of why.
"Earlier this year, the Bank of England issued a warning of an imminent crackdown on bitcoin and other cryptocurrencies, citing that these “inherently risky” currencies failed to fulfill their basic obligations as money and alternative forms of legal tender"
However, things seem to have eased up a bit, and promise to remain that way unless the market takes an unexpectedly feverish turn.
https://www.ccn.com/crypto-market-crash-takes-pressure-off-us-uk-regulators/