Bitcoin is based on trust. If trust is lost then it will collapse. Trust depends on various things like mining, crypto exchanges solvency, Tether solvency and of course people.
It is like a trust token. If people trust to hold it and transact with it, they actually give it value.
The faith is about holding it and not selling it when its price increases. Still, a lot of people will take some profits when it goes very high. That's something normal.