It's all really irrational; we're now on the same level where the crazy rally started. People are upset because of the crash from heights. If the price had been flatlining this whole time, people would be bored and well, crying why it's not moving up (I guess that's no different from now). Though I feel for the new people who bought in near ATHs and are now crushed when it comes to their portfolios. I FOMOed too and bought Steem with way too many euros when it was way too many folds more than today's price. Though I'm fairly certain I've learned my lesson – I'm not even that interested about crypto anymore, except for Steem to some extent, because this is the one thing I actually use, so it has some merit to at least.
I wonder if it's the same with other people; they're getting bored and and actually getting pessimistic about crypto. If that's the case, we could be facing a years long downtrend like with Bitcoin in December 2013 topping at $1100 only to reach that level again In January 2017. But the longer the downtrend, the better for the consistent people here because they will get easier noticed here when there's less noise from opportunists.
Don't believe it, that is what they want you to think ;)
Well, I tend to get quickly bored on things so that's entirely possible.