I suspect there are many reasons that accompany people not to buy cheap in 2022 so it may not always be about fear. It was the economy and inflation that forced me to adjust spending and investment, so to be honest a lot of people would probably think the same as me even though they actually bought less than they wanted to buy.

Don't tell that to those who actually know about the workings of the crypto market especially bitcoin in the last more one decade, but it might seem true if they are newbie trying to hope to get rich overnight.