So who have invested at the higher prices in the past would be much more in good position even if they are looking to sell their bitcoins.
You forgot to take into account that whoever bought at the higher price and hasnt sold yet even after
BTC is taking a deep crash means that the person believe that
BTC will be 4-5 figures and that is the reason that he is holding.
Having a higher price for now isnt feasible, the last waves happened because of the Greece + chinese stockmarket hype and if there isnt any of this hype, there wont be a solid waves though.