It is not caused by the fake news. The real top 3 reasons are:
Concerns on the performance bottleneck and scalability of ETH.
If ETH can not be the central platform for running different DAPPs smoothly, what is the use of it?ICO regulation is on the way
China government is on the way to regulate ICO market for sure. I believe US and other countries will do the same thing.
If people can not get rich through ICO, why will they buy and hold ETH?
But I agree that regulation is the right thing to do and will benefit for the long run.Competitors are coming
EOS or maybe other better designed platform are coming.
They have better availability, better design and cheaper communication.