They were getting fooled by big guys on twitter who keep saying that if the trend will always be the same and 4 year cycle will always happen. So many institutional investors have been joining in this market and crypto can't be manipulated easily like what happened in a few years ago. Sometimes the guy who believed with 4 year cycle was facing huge losses. That's why he believe if the dump will be just temporary but he forgot if crypto is unpredictable. Bunch of expert traders failed to predict the direction of cryptocurrency right now.

I do believe some people may still tell you if the chart looks like the same with 4 year cycle that happened in 2017. They never learn from the market. TA was not everything. There was also FA that can change the situation anytime.