Bitcoin; the first successfully created cryptocurrency, continues to dictate price trends in the cryptocurrency market. It is easy to observed that most cryptocurrencies if not all, follow closely the rise/fall in value of bitcoin.
The value of cryptos will continue to drop as the deadline for the activation of segWit2X approaches. SegWit is an upgrade in the source code to correct some of the problems the cryptocurrency is currently facing.
Some miners remain however skeptical as to whether segWit was proposed with a 100% good intention or as a move to centralize the digital currency. For this reason and more (which I will cover later in more details); there is mistrust and uncertainty as we move closer to august 1st 2017, the proposed date for the activation of SegWit2x.
Until then, the drop in the value of bitcoin will continue with all other cryptocurrencies following suite. At the time of writting, bitcoin is trading below $2200.