Let’s be honest, it wasn’t the traders and bankers that moved back from crypto to forex… It was the everyday Joe that really wanted to buy the next bitcoin last year, and after December, realized it wasn’t going to make him rich overnight quite like he saw happening before with bitcoin. These people were hyping and FOMO-ing like crazy, and there was literally no logic behind the market movement as a result.
A trader can absolutely hold long term, there are different types of trades one can make, but we’re not talking about traders here, the bulk was everyday people who wanted the million dollars out of a $100 “investment” (several of my friends who were uninterested in crypto until then suddenly became very interested and were asking me to sell them coins… “$100 very easy to turn into $10000”, as I often heard).
So you want to support and sustain the market on the backs of these people? Of course the market dumped on them like crazy, because not everyone was a moron like they were.
Now you have to wait until legislation is favorable for institutional investment to come in, and real adoption sets in so it proves to people that the technology is worth while and here to stay.