Many could have feared that they might miss out on the opportunity for some quick buck, that is why they just went straight up and jumped to Bitcoin. 40k+ is still quite pricey even if it was from 60k, since back then everyone had eyed on 20k+, but then when we look at it, it just went insane. 
Fear makes these people do something stupid so they end up getting late into the hype. The only problem I think is that people that needs the money the most are late in the hype and sometimes they end being the loser because when they get in, the prices are already plummeting.Yes the 50% like was the point where I thought ok now Bitcoin should be oversold and resistance will come up. That was the case. A couple of rumors also helped Bitcoin to get back on track but it was oversold anyway at more than 50% loss fro its ATH. The best strategy is to not put all your available cash into one single position when a crash happens, but to put a fraction of it repeatedly into crypto even when it is downward slipping.
