As always, a wide range of factors have contributed to the recent market correction and it is difficult to pinpoint several events as the definitive factors behind the fall of the market. Rather, it as an amalgamation of many events that have occurred throughout the year, which include:
Mt. Gox sell-off
Possible manipulation by large-scale traders in the futures market
Bitfinex taxation policy
Bithumb and UPbit scandal in South Korea
Failure of institutional investors to meet the anticipation of the community
Regulatory uncertainty in several regions