Btc price dropping does not equate to investors losing money, i think at this point, the saying "invest what you can afford to lose" should not apply to btc but to most of the numerous alts we have in the market because in the end btc always recovers with full force, and sometimes react differently from predictions.
So it is normal to see investors greed index increasing knowing what btc can do. This is the time to start getting prepare for the next bull run, not in the bull season.