This means that indirectly in terms of investor response depends on how long he invests in bitcoin, because based on experience, the average person who is new to investing in bitcoin and gambling in the bitcoin cycle section will feel bored with the fairly stagnant bitcoin movement, but especially if those who buy in bitcoin at the top price, it will be more consider bitcoin as a ponzi scheme.
Meanwhile, people who have invested for a long time in bitcoin will be calmer and wait for their target to be reached, even though today the purchase price is much higher than the current movement. But if it's me, I feel calmer because I also invested in bitcoin for a long time.
I think it should be quite clear that we are going to end up making some decent profit one way or another if we just wait, and not a lot of people have the same patience as us, so they try to get out as soon as they see a little drop in price which is just a correction and nothing more.
Long term investors just ignore the daily price to be fair, the only price that we care about is when we are going to sell, and I do not even care about when I buy, because I buy whenever I have some money to buy bitcoin, I do not look at the price and decide when I should buy, I just buy it whenever I want to, but eventually I do end up with selling, or at least one day I will sell and that's when I will care about the price, but not for anytime soon.