During that time people are assuming the price will going to increase consistently thus they buy even the price is expensive. Unfortunately it go down slowly without clear direction, just a pure volatility. Its a sad scene for investors who bought during ath, and to save themselves for further losses some of them chose to sell and quit. You cant blame those who decided to already sell at loss, they have reasons. We always advice to buy low, sell high but for greedy people, they will buy regardless of the price as long as the market is on uptrend status, thinking its the right time to engage themselves in crypto. For me i'd rather wait and forget the market or a while to refrain myself from selling at the wrong time.