Its being observed that market was moving towards bullish trend but for last one week again prices are falling.As per my knowledge there are two reasons.
1.Mt.Gox sell another big quantity of BTC due to which BTC prices fell down and entire crypto price is going down.
2.Largest S.Korea crypto exchange upbit investigated by authorities and police after price are falling continuously.
Due to this massive sell of is being observed.Anyway its common and market will soon move toward bullish period.
Looks like you've done a bit of research!
Yes, one of the main reason is because of Mt. Gox selling off a huge mountainload of btc.
For those who don't know, Mt. Gox is basically one of the original crypto exchanges and dominated everything for quite a couple of years.
And then got hacked with massive amounts of money being stolen.
They have been selling off their btc to pay for the downfall of everything and since the beginning of the year, they have picked up the pace.
As far as Upbit affecting things, I am a little doubtful that had a huge impact.
While volume from Korea is a whopping 20% of the entire market place, one exchange out of all of them doesn't seem to have enough of a influence.
Korean traders would have just moved to different exchanges.
Mostly, the crowd sentiment was anxious for Consensus 2018 and hoping things would take off.
When they didn't, that made the cycle even worse as immediately, people starting being bearish again.
teh irony of it all, is that if stopped holding on to our coins so tightly, we can push the market up by trading and buying.
