One of my close friends business partner wanted to get into bitcoin after he heard that bitcoin was 20 thousand dollars and he spend a good chunk of money to buy some and he literally cashed out as soon as it hit 10 thousand dollars, got back only half of his investment and stopped caring about bitcoin totally. Those are the newbies we had, we don't have any left after a bear YEAR.
Which is why it'll take a while for the next bull run to really get going, just like last cycle. Most of the new people leave, and they don't come back until they start hearing about bitcoin rising again. Next time they'll get in much earlier in the bull run (for those that do return) and then tens or hundreds of millions of more people will go through what 2017's newbies went through recently, getting in too late at high prices and then losing lots of their money. Its all part of the cycle. Once people have experienced a full cycle and realized they missed their opportunity to buy in at the bottom because they were selling on the crash and left, then they are ready to do it right on the next full cycle.