Bitcoin didn't rally last year because of some positive news, because there were no significant positive news at all. In fact, there was much more FUD than today, because of SegWit2x and Bcash attacks, and later because of high transactions fees. Also the FUD about 0.5% of electricity first appeared in the last year. What is happening now is just the market cycle, the price skyrocketed and went parabolic without any good reason, now the market is bearish because no one expects to have a new rally just half a year after a previous bull run and ATH. News in general have very little impact on Bitcoin's price, and even when they do it's pretty short lived.
Exactly, we are all in awe at how the price could gather steam and almost touch $20K last December. But most seasoned trader are scratching their heads because we don't know where all the money is coming from. Maybe we can conclude that the CME and CBoE entering the game didn't do good but bring us more harm as the market free fall from $19K to $6K.
I guess its really a expensive lesson for everyone here, specially who FOMO and bought bitcoin as its peaked and thinking that we can go on parabolic rise. We all got burned, the market suffers and keeps on struggling and we do hope that we can even get to $10K at the end of the year to kick start 2019 with at least to end this bear sentiments.
