But what you don't realize is the fact that it actually worked and lots of people panic sold so, idk, Bitcoin prices are going back up but I'm sure people got burned.
It worked but only for a limited amount of time and for a limited amount of people beside one of things those people don't realize is that the more you use an strategy the less effective it becomes because we get used to it and we may even use it to our advantage.
What you said is perfect, when a same thing is repeated then it losses its value and it wont carry effect and the same thing is happening with china market before they were success with this trick but now other country users are having more faith on bitcoin and on every decline they are buying as it is a buying opportunity for them