Peoples were also still didn't believe in bitcoin because they were thinking there is not a guarantee for future and that's why they were also solding their bitcoin.
It's not that they don't believe in Bitcoin, the reason they sell Bitcoin is because they want to make a profit from the transactions they make, so in this case they use the law of "buy at a low price and sell at a high price". People who sell Bitcoin cannot be judged as having no confidence in the asset, they are simply taking advantage of price fluctuations to make a profit.
Investment strategies are not only long-term, when they have reached the specified time limit and obtained the desired profit, they will immediately sell it and then re-enter when the price is low.