But sometimes people who don't buy at low prices are not all out of fear, but there are also those who don't have the money so some people just monitor them without doing anything. As for those who have money but still don't buy, maybe because they have a different analysis, so they are still waiting for a lower price, even when the price they want arrives, they still don't necessarily have the courage to buy. So buying is about having courage after money.
It is true that there are people who wait for the Bitcoin price to drop even further. Even when the price of Bitcoin fell to $15k, they did not buy and waited for the price of Bitcoin to fall to $10k. In fact, these are the people who never come out of the state of fear. They think that if they buy at this price, the price may fall further. You are right that one must have courage to buy. Buying Bitcoin requires both money and guts. Those who do not buy even at a low price do not have any analysis, but fear alone does not allow them to buy.
People having no money in dipped are mostly those who have less knowledge of crypto or using bad strategy of buying at once. In crypto we have always keep extra fund for bear market and use it in right time. suppose one buyer has 1k$ then he just to buy 300$ first time and 300$ after 50% dip and then wait for big crash to use other remaining 400$. If we use all at once then we will just view market and could not buy btc at discount rate in bear market.