I think this is because of those fake news that are giving people in the cryptocommunity negative thoughts that creates a panic, we all know that when there is a panic, the whole cryptoworld is being greatly affected, and that is the reason why the leaders and creators of the cryptoworld is telling people to keep calm and wait.
Fake news is really affect why bitcoin price going down especially if many investors easily believe on those fake news about bitcoin, but if you really believe in bitcoin you can't easily believe to that fake news .
Not just only fake news but some of the bitcoins that seized by the local authority to the illegal bitcoin business operator are being dumped to exit crypto as much as possible before the value becomes lower. Just like what happened on the Mt Gox owner that sells his bitcoin to pay his debts to the user of that scam exchange