What is happening to Cryptocurrencies?

Cryptocurrency collage (sort of)

I know everybody is extremely anxious about this downtrend we have been seeing in the cryptoworld, and the most worrying thing about this is that nobody seems to know why this is happening. Some of the reasons I have heard are, the coming Bitcoin fork is guilty, but the fork hasn't even happened yet, why should it take down nearly all alt-coins, come to think of it I thought these coins are decentralized, what happens to one coin shouldn't have anything to do with what happens to another. Now I know someone will come up and explain why this is not so, but people have been explaining for a long time and never hit the button, so I'm not buying this Bitcoin is so big all other coins are subject to what happens to it.

                                                            

Another theory going around is that prices in the crypto world are tied to waves and when it gets to the third or fifth or whatever wave it goes back to where it started, look this is the crypto world not the ocean where waves actually come in cycles, if this wave thing were true all these guys posting about them would be rich by now and wouldn't be posting about them.

                                                                 

                                                    This is wave cycles one comes after the other

I'll now let you know what I think, I have two ideas. One is that there are in the crypto world huge whales who put their money into all cryptos and play around increasing or decreasing prices by overselling or selling at lower prices between themselves, and in this way getting as much money as they can out of the people who when they see spikes or lows in prices buy in, I'm talking about a lot of money, I know a couple of whales here in Steemit who are also heavily invested in other currencies, putting that kind of money into something as volatile as cryptos is very dubious unless you are practically sure of the outcome, because with cryptos we have the problem that it could all just explode and leave you at zero, so they must know something we don't, unless of course they are crazy and are willing to risk it all in something like this market.

Now the second idea I have is that there are bigger players than whales involved, I'm talking about the famous .01 percent, the guys who own banks, multinationals, countries, maybe they are investing in crypto just so the wealth will not be to heavily distributed, remember they have no interest in lots of people being able to free themselves from the shackles of economic slavery. They can play around with the prices until people who have a lot in cryptos go broke and these powerful people own most of it and then they can use it for their own means.

Have you heard, oh, it's just a market correction, well who dictates this correction? Cryptos don't have a life of their own someone or some group have to be behind the fluctuations, so for us who are in reality very little fish in this ocean all we can do is either sell at a loss but at least get something out of it, or try to weather the storm and see if in the near future things start looking good again.