Some of biggest reason are follows
First of all in my opinion its not a really crash Its healthy correction.
Market would have moving upward if the following factors are not exists. I feel that if the following are not the reasons then Bitcoin would have seen at 20k to 25k USD or ETH at 2k.
Reasons are
1. Tether Scam
Tether getting a subpoena from US government asking them to prove that they have all the Money (US dollars) reserve that they claim to have.
As 2 billion tether in market cap then they should give proof of that they have all 2 billion US dollars, I guess they fails so far. Off course it actually raised a concern on integrity of Tether.
2. Bitconnect
We all know bitconnect is ponzi scheme but how bitconnect used to do is to introduce new peoples into market where peoples used to give them bitcoin in order to give fixed returns even through it was a ponzi schemes new peoples are falling into it.
3. Coincheck Hack
One of the biggest exchange in japan got hacked, 500 Millions of NEM tokens got stolen and coincheck took halt no more treading, no more buying, no more selling that was another fud created from japan.
4. Indian Media Fud
Indian media interpreted a news from parliament thinking that its ban on bitcoin and cryptocurrency They spread the news all over and peoples started selling it. this is one of the reason for market crash.
5. Facebook bans all crypto Ads
This also created a big fud specially for new peoples in cryptoworld . if someone just getting started in crypto and buying their first bitcoin by not knowing the fundamental of Bitcoin and Cryptocurrency are its very easy for them got into fud like this.
They are simply thinking like this ' Ooh My God, Facebook bans BTC and cryptocurrency ads , There must be something wrong'.
6. Banks bans credit purchase of cryptocurrency
All major banks from USA like bank of America, City Group, J P Morgan they collectively come together and they 'said we are not going to support any credit card payment for bitcoin ' and that is still on. There is no more buying from credit card.
7. Monero Gold Scam
In half an hour any one can create Tokens on Etherium blockchain called ERC20 Tokens . Now a days it is very easy to create tokens on ETH. and put them in to ICO's And running the ads campaign and giving discount on referral. peoples are participating by not knowing what are the tokens ment for Specially when tokens pretending them-self as a this could be a next bitcoin. Monero gold is one of them It has a market cap of couple of billions that also turns into a ponzi schemes.
Above are major fuds are there, I strongly feel if there was no fuds or reasons i think we definity see upward movement and market crosses 1 trillion market cap.
Note: What we learn from this fuds is not to follow random call fro anyone do your own research and take decision. on own research.
Let me know in comment if there any other fud that would like to add to list.
Source
- Facebook bans all crypto Ads
- Banks bans credit purchase of cryptocurrency