Investors who are long term hodlers willnot panic but wait patiently for the long awaiting bull run to come at the right time. Short term investors who are weak hands might fall for this trap, because some of them might is the money for their important needs to invest when the price increased to 70K, believing it will just keep pumping.
You're right and I agree with you. Certainly there has been Investors who doesn't make hay when there's a significant increase in the market, believably every investors are in to make profits in this quest but there are little dreamers and big dreamers which lies between the Investors goals.
Short term investors are too grief with the markets conditions and are usually around the corner hoping for little increment so that they could sell and have that insights to had made profits meanwhile that little rise was just a significant to shadow that the market condition could be approaching to a huge amount when the investors could actually feel that they've met with the investment ATH in a better State of time to sell but yet there could still be Investors hodling stably until the point of their goal is achieved.
It's important to always have an investment goal so that you can always stay unpanicking without craving to sell at the wrong time.
This is why long term Investors are more commended in being at the best state of Crypto investment with the markets volatility nature.