One month the crypto industry was slowly rebuilding after months of decline, and out of nowhere Bitcoin dropped 13% in value. One month of effort was undone within 12 hours. A whale with a big bag of coins sold his fortune on several exchanges. In total 10.000 Bitcoins were made available, which couldn’t meet demand. Therefore the price dropped. The rumor has it, the 10.000 BTC came from someone affiliated with Silkroad, the now closed black market place that became notorious before Bitcoin became mainstream news. Other rumors suggest someone as Goldman Sachs has been trading with insider knowledge, as the investment company came with a negative advice a few hours later.
If you think Bitcoin has made a plunge, take a look at the alt coins. The price for Ethereum is now at a 12-month low. It hit 228.80 USD, which was well below the 255.05 from September last year. Ehtereum peaked at 1377 USD in January 2018, and has been in a free fall ever since. In May the token was moving back up, but since May 5th the token has been moving down to its now 1-year low point. All other coins and tokens have seen comparable declines.