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FUD was rampant, and indeed many people got caught. That wave of panic selling really scared people out.
And the result? It rose directly from the bottom by more than 3 times. Those are probably the moments when those who were scared away regret it the most.
Interestingly, the ones who can truly hold on are now the ones smiling the most comfortably. Whether it's a matter of conviction or simply being too lazy to check the market, those who坚持持仓 (stick to their positions) ultimately reaped the benefits of this wave of行情 (market trend).
This is also a common storyline in the crypto market—emotion determines entry points, and only坚持 (perseverance) can lead to rewards.