Haha, so true. Everyone giving messages of HODL and yet market keeps going down. That just means people want others to HODL, so they themselves can cash out.
Many people are hodling their coins but not to that point of taking so long sometime it need more effort and patience. Most of them weren't able to survive and given up the commitment due to need of money even though they're losing much. However when price started to recover back, buying back is the other options for them.
I don't blame those dumping now because it is very obvious they had the intention that crypto is a "get-rich-quick" investment. Perhaps they failed to learn the fundamental concepts of how Bitcoin and the market has survived up to date. Some of the early adopters of Bitcoin during the era of the creation of BTC had to hold for years before seeing the all time hit in 2017. Why then are contemporary investors looking forward to make riches in just some few weeks to months after joining crypto investment?