You know how human can be that pathetic, I'm not saying that all are but most who do love speculating are. People are calling to go lower but when the time it's favorable for some to buy, they fret. People love to buy when they think it's favorable for the market but they seem to caught up in the FOMO phase and instead of selling the top they tend to buy during the top. When the price is in dismay, try to DCA.
Many traders get stuck in FOMO because they want the moment before a bullish market indicates (own opinion), but when things go against speculation they are not prepared to accept losses and cut losses based on negative speculation otherwise the market will drop drastically for higher losses. Of course, without DCA we don't have patience in managing crypto assets because market fluctuations will be prone to moving at unpredictable prices.
You're correct on that tbh, most just don't want that negatives or red from their own portfolios. Investing is just like life if these people knows it, it ain't all sunshine and rainbows. Well, the bear market scenario was just to flush out those paper hands and remain those who are here for the long term.