Fear has something to do with this they fear that if they buy without a signal that the price is going up they might lose again when the price is going down, these people are not investing what they can afford to lose and they always follow what the people are saying or when the market is moving they buy when people are starting to buy.
I think fear is not the main reason, because i feel as the fear will only hold us to move, while i think they just do not know what will happen in the future, and estimated the price
You're correct because many individuals who joined the cryptocurrency community don't know when to buy nor when not to sell. Many don't care about the market price before they buy cryptocurrency, some of them buy when the market price is at it peak. Ignorance I think make many of them buy cryptocurrency when the price is up, some don't actually understand when to sell. Learning is a major tool for cryptocurrency understanding.