Most investors don't have the emotional toughness to appreciate dips especially when they invested at a relatively higher price and so they rely heavily on price action to choose a suitable point to invest
This is a good observation. I won't blame them. It seems that many of them are likely small retail investors with a lower tolerance for risk. From a psychological perspective, if a person enters the market at higher prices would it creates concerns about potential losses. I understand why they focus on analyzing market price action to make well-informed decisions before investing. I would too.
Let's face the reality that Bitcoin ETF approval has occurred in only one country. However, considering the historical evidence, there has been a noticeable global increase in Bitcoin awareness and adoption. It's worth noting that Bitcoin halving is an event that typically precedes a bull run, could drive market dynamics even without the approval of ETF. I am making a prediction that the Bitcoin price will reach $80,000, either before, during, or after the halving event.