I have been writing here about markets and cryptocurrency for quite some time. I just published my 170th post on Steemit on the topic - just over one year's worth.

Your brief watching has put the finger right on the button. I call it scared money. I have written about it for a while

My sense of it all is there are a lot of people invested in these crypto markets who just do not invest in other markets and they do not understand markets. There also seems to be a lot of scared money

June 2017 http://mymark.mx/TIB101

Crypto space has brought in a breed of early adopters - right from the early days of Bitcoin mining. They earned pennies doing a little mining or faucet work. Then the ICO's came along and they bought a few - because they knew about them. Roll on to now: price races up - price collapses = scared money heads for the exits basically because they have never had money like this AND they do not have an investor mindset.