Institutional investors are far more smarter, they are always here when the market is at it's lowest, they understood the game more than other investors, they have advisers and traders who gives them updates and good calls, these are the biggest investors in the space, do not think that they will do something stupid.

The truth is even if Bitcoin is a million dollars today some people will think that it's going to 2 million dollars soon, and they will keep buying anyway, it's easier to FOMO when price starts pumping and it's easier to shy away from the market when it's dumping.