Many people are bearish these days in the cryptocurrency field. Their reasoning being fear and uncertainty in the field along with a negative news cycle. The downtrend was ultimately started by the problems with Bitcoin and its insane transaction fees... These problems today have been resolved and the lightning network is active. Segwit is doing its job as well so the fundamentals have turned bullish as the currency's problems have been patched. With many being so bearish (and with Goldman predicting 3k target) the market is primed for a bull run. It is not until the majority are offsides does the market move and here is no exception. I see a retest of 12k coming and a general market rally in the short term