BitCoin dropped for a myriad of reasons ,i believe.

-Low volume is a killer on financial markets.If you ever watch BTC on tradeview or even Gdax ...Volume spikes pretty hard when selling starts,but as of recent with the slow rise towards 12k,volume was actually not too heavy on the buying side. So yes BTC failed to hit/go past the 12k resistance point...which is huge in signifying a bullish trend.

-Buyer sentiment or should i say indifference. BTC was the"It"subject a few weeks ago on every news/finance program be it positive or negative.
Now,after that downward spiral to 6k...yes i do believe alot of newbies ran away from this market after selling their BTC/LTC/PaCoin etc. And with a steady influx of negative news on cryptos part (BitGrail/ICO scams/Binance 'issues'/etc) it was somewhat easy seeing this cause some negativity in consumer sentiment.

-Binance having 'issues" be it the false accusation of McAfee's on they being hacked. Or Today's issue of compromised 3rd party bot software. Binance is face it ...one of the most recognizable crypto currency exchanges...anytime it has issues.
Expect a nasty downturn based on people panicking. Binance to their credit are quick to respond and just as fast to shoot down rumors.

Excellent business management on their part.

Even NEO had its own issues when a DEV commented on its node issues on Twitter. Neo's price dropped there after.

Twitter.

Seriously.

Now to a person who works in finance last 20+ years,seeing a decent price drop caused by a single person who was critical (and still is from what i read)...shows that this market is as hyper sensitive as a 13 year old girl going through puberty .
Not very assuring to someone new wanting to invest some money in this market.

-For those wanting stability...you need the 1% in this market....or at least the top 10%
Wealthy people DO want to get into this market ....but just don't understand it.
When they see a coin which is considered a top coin (Neo) drop like that off a social media post...well...that sure as Hell doesn't convince them to invest.

Now i know,im going to get "Fuck them we DONT need them....blah blah" responses to this part.
But alot of you complain ...even here on Steemit about crypto's instability.
And unless you got in real early in this game (and im talking early last year or before)....you most likely got in Oct/Nov/Dec...which means you got some red in that portfolio.

If you want stability,realize some things need to change.
We need real investors ...not just speculators.

Or this market will keep crashing
And alot of people will keep losing money.

Excellent video as always my friend @Cryptovestor