Many are afraid to invest and put in money. 2018 drove many investors and traders from the market. So of course, not everyone is ready to invest right away. Although all those who bought on the fall of the market now increased their capital. I think the market will continue to grow.
Oh yeah, I can remember the capitulation era which lead btc to $3.2k from $6k or so. That was a ridiculous time we spend. In fact, I too was affected by it although I didn't sell.
These investors are not willing to invest again since they knoe anytime btc may down.