In a bull market people are gaining conviction and learning about the technology and may not buy any long term holdings until they see a bear market price level again. There’s more to becoming a bit loner than getting orange pilled and aping in. It’s a long cycle. It plays out in a variety of ways.

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“bitcoiner”

Definitely, yes, great point.

If Bitcoin goes up to 170k and then goes down to 80k, a lot of people would probably get in the market.

That's a good point! Never really considered it.