It's like being caught in the rain without an umbrella. When cryptocurrency prices fall, people tend to hold on to their assets tightly, hoping for better days in the future. It's like a game of crypto hot potato - no one wants to be left holding the bag while the music stops. So, they are more likely to increase their assets than spend them. It's a waiting game, and everyone is hoping for that elusive moment and when the price skyrockets again they smile back. 
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What they are waiting for is the skyrocketing price in the market so that it is only natural that some of those who have bought still want to increase the amount of their assets in their wallets to wait for more profits. But those who are waiting for a price increase without buying are also very many, because maybe they don't have the additional capital to make another purchase so they can only wait for a price increase by not selling at a loss at the lower price. .