EOS How's it doing?

When @dan left Steem to work with the EOS project a lot of people went after this token and invested heavily in it, apparently right now it isn't doing to well as can be seen by the following chart:

It isn't doing too good, and people had a lot of expectations with this token, but it has taken a big dive since August, the causes of this I really don't know maybe it's that Bitcoin has gone up and stopped all growth for most of the other alt coins?

I am just putting EOS as an example of what is happening in the crypto world.Personally I think one of the reasons for the alt coins slide is the abundant appearance of new coins with their respective ICO's, I mean I look at each of these ICO's and every day it appears one of them has broken the previous record for funding. And each and every one of these coins comes with the idea of it having the latest form of technology that will make all other crypto's obsolete.

Now people's funds are definitely limited, not everyone has the capacity of investing a lot of money in crypto, and if you put your money in one of these ICO's and it goes bust you probably will not invest in crypto again, and besides you will provide proof that investing in crypto is not a good idea.

I think the elites are behind much crypto including bitcoin, but maybe they encourage all of these ICO's because when these flop people become discouraged, and Bitcoin just goes up in price, as the price goes up people sell their bitcoin and the banks and elites just buy them via proxies and when you know it they happen to own most of the bitcoin network.

Of course I may be wrong but I think all of these ICO's are just smoke screens, some of them are outright scams and others are just discouraging people from crypto, a few make a lot of money while the majority get fleeced. And I bet you the guys making all the money are the same group of people. And I bet you they are being financed by the same big guys, I mean wouldn't you start an ICO if you are assured a heavy profit? Not morally correct because you would be the cause of many people losing money, but these days that isn't much of a big deal.