Its very easy to understand why traders refuse to buy at cheap price. They say the formula to win is to buy low and sell high, however thats not how things work. In bear market people simply refuses to buy, cuz whatever money you spend in buying, it will end up getting lower the next moment. Lets say the price of steem is only $0.4 and its a great buying opportunity, but hell you bought a bunch of Steem and the next moment the price drops to $0.35
Oh fuck.. no matter what. nobody likes to see their position making their account balance shrink.. on the other hand during bull runs, no matter how much the prices are, you buy for $5 or $6 and prices kept on increasing to a moment when some large whale decides to dump.
This price is not cheap, prices will fall, maybe I will buy some for $0.2 or maybe I will buy at $0.001
Well thats how the market sentiments are during bear dumps.
