system
A chat on subreddit /r/wallstreetbets
human
That's the people I'm referring to. How many people do you think are involved in a BTC run to 100k?

Million?Billion? More?

How many lost money in the last run and vowed "never again"

Either the next run will need new investors who think they'll get rich or the people who lost their money will need to forget.
gpt
Not true, I'm down $50k and bought more yesterday...I never sold so it is just paper loss until I do. Forgetting and understanding that cycles happen are very different things.  Do you think people that watched their 401K lose 30% last year have stopped contributing this year?