The good thing about the bearish market condition is that you can buy more bitcoins. Thus, some investors did it and even made some FUDS to fully let bitcoin go down for more before they invested. Clearly this is what they want to buy more bitcoins. Now, many are worried and uncertain that bitcoin could not recover. However seeing the current condition make one to get encourage to invest again while bitcoin is cheaper.
So my point is that having a bearish market condition is not really bad at all. It means that you can buy more bitcoin and earn in the next bull run.
The point is that newbies in the market are always worried on the stagnant bearish conditions of the market whereas an experienced or seasoned trader would know that bearish state of the market is an ample opportunity to buy more and hodl bearing in that price pump and dump and catching the lows and highs to buy and sell and certainly believed that the price will always recovers despite the long period of the bearish sentiment.
Now the price of btc had pullback to $4K9 of course some trader would have sold at $5K+ and started buying again.