Because I feel most people has sold out.
Of course. It's a pretty safe assumption that only
a small minority actually held bitcoin throughout the years(and throughout all the price dumps), and there's really nothing we can do about that. The true enthusiasts will stay while the get-rich-quick speculators(or the people who needed the money) will get out eventually.
There is actually no way to know how many people did what, let alone speculate whether they are the minority or the majority. In fact if I had to guess most people who have stuck around for long are already aware of these so called "price dumps" and aren't making rash decisions like the newcomers do. For example someone who has bought bitcoin at $200 5 years ago has never been concerned about price dropping to $3000 because why would they be?!!