this is what is called not wanting to be left behind or what is called the FOMO syndrome...
a professional trader/investor will definitely only buy an asset when the price goes down but newbies will only buy an asset when they see the price is going up in the hope that the asset price will continue to rise.
i actually think that they are opposite . as a newbie you wont know how things exactly work so you will go on the safe side such as buying when the price is low but pros and experts are so skillful and they can do riskier moves such as buying on the pump because they know where or when to sell . the truth is that there are more buyers when the price is low or when its dip/dump but this doesntean that most of them are noobs .