Have you ever asked yourself this same question each time you panic sell during a bear market like this ? who are those buying? why are they buying? what will they use if for ? these are the questions i do ask myself and it helped me hodl some of my token and later made some profit from them .
Well those who are buying on this bear market are probably the big investors or you can call them also the "whales". They're just wise to buy with such low prices, hold it for long term and when the price rises they will sell high for profits.