But maybe majority could sway away from the market because it is crashing and then want to see how the price will go. Wait for the price to still go down further before they buy.
My take on the majority is always this: most people, even myself included most times, we're concerned more with putting food on the table and roofs over our heads. This means buying BTC is on the backburner, pushed far back behind the list of priorities.
It's not always fear when it comes to the retail investor (which I still feel is a force to be reckoned with). Just a matter of a bad situation economically that prevents further dipping into reserves. Bargain price or not.