I think there are still a lot of people who are hesitant to buy bitcoin when the price is low because the price doesn't tend to go up for a short time so they prefer to buy it when the price is high and it has the possibility of price strengthening again in a relatively short time short.
I think they hesitate to buy when bitcoin dumps because they are scared that the price might continue downward, so they feel they might lose if they buy during dips and it would be only right to buy bitcoin when they see it start pumping, alot of people pray for dumps to happen in the market so they can shop and get coins at cheaper prices, but when the dump happens they all become scared of buying, just typical humans beings for you.