My take is that this mentality is mostly exhibited by newbies. The are easily moved by media hype and unhype. They want to buy Bitcoin when everybody or platforms is discussing it. When there is not longer attention, they lose interest. Most people who have had experience with the bull and bear seasons wouldn't be driven by FUD or FOMO. Those who rush in to buy Bitcoin during the bull run are not well-informed because the bear season is the best time to buy if you want to make profit. Those who sell during bear season are transferring discounted Bitcoins to experienced investors.