If small investors still believe in Bitcoin, it sheds a signal that we don't get a bottom range yet. The psychological cycle of market is repeated and bear market only comesto the end if small investors give up and feel very anger.
I think Bitcoin is in accumulation, not side way for a good bounce in a few months. After that, we will see another dump to wash out most of small investors. After a wash out, the market will have a long side-way to wash out rest of small investors. It will be very long waiting time to see ending of this bear market.
I wish that's not true but sadly the fact is that the whales make the most of their money by manipulating the small investors.
I strongly feel that the current increase in price of bitcoin might also be a manipulation by the whales to trap the small investors and suck their money.
It would take a long time before see BTC going bullish this time.