Personally? I believe that bitcoin is just starting to recover from the bear market. The pumps and the speculations of reaching a higher value is definitely a good signal to invest. The situation now is definitely enticing to new investors. On the other hand, for those people who sold with 100% ROI, who can blame them? But I don't think they want to totally get out, they would simply sell and wait for some pullbacks to invest again.
For the newcomers, its definitely a chance to invest in crypto and bitcoin. Although Bitcoin is at 8000$ but all the altcoins are near their all time low. So we can buy bitcoins first and then invest them in altcoins. As soon as bitcoin dominance decreases we will see big movement in altcoin prices.