I think a lot of people just loses their confidence because of the fact that this past bear market has arguably been the most brutal in history. A lot of people might just miss out because of this. It's only the beginning.
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I don't believe that it was brutal the drop was 77% on Bitcoin this bear market and in the previous it was 88%. This time there were more altcoins on the market so more people got rect there but that was to be expected.
It was indeed. Psychologyically the SBF event created some huge FUD in the last bear market, so many people were rekd even more.