Crypto Market Down - Why?

Well I have a few reasons...

1) Fear of Segwit (BIP 148)

As we inch closer to Aug 1st, people are starting to wonder what will happen to the almighty Bitcoin. The big boss if you will of crypto currencies. The fact is many most of the people investing in crypto right now are hobbyists at best. If they have some knowledge of the under workings of BTC, blockchains or this or that, then they are a small percentage. Heck, I know more than all my friends combined and I'm still confused as hell as to what will happen on Aug 1st. 

So all these people have put in a pretty penny...many have staked large portions of their savings on this crypto wave. Now, they are worried about what will happen. Bitcoin will most probably survive but may take a huge hit just like Ethereum did last year. But it will recover. The problem is that it will bring down all the other cryptos down hard...and many may not recover. So people may be selling off their crypto assets at this point or at least shifting them away from the exchanges and into their wallets. 

courtesy of realinvestmentadvice.com

2) Speculation run a muck

The barrier to entry in alot of the crypto exchanges is very low. Low enough that most average folk could set up an account and get a BTC or two transferred and they can start trading. How many wannabe day traders have latched on to the cryptosphere to try and make a killing? How many people are trying to get in on the next big ICO? People are dumping money into ideas with no real ... literally, no REAL anything. A whitepaper has been enough to turn a HS computer science paper into a $250 Million+ market capitalization. If so many people are in it for the short haul, for the quick buck, to be that guy with 10,000 coins bought at $0.10 only to see it rise to $100 making all his or her dreams come true. As soon as it goes live on the market and the price is driven up by sheer speculation, those that want to profit will start to dump. Just like penny stocks in the Wolf of Wall Street. Pump and dump. 

Which do you feel it is? Fear of what will happen to Bitcoin? Or too many people are in it for the short haul and any move downwards makes everyone bearish?