If people buy Bitcoin at $8,000, they will get 100% profit only when Bitcoin reaches $16,000. If it takes 5 years to reach $16,000, people will earn more money from Gold and Silver than from Bitcoin. Silver is giving 20% to 35% profit in one year.
Mining cost of one Bitcoin is $5,000 or more. When Bitcoin was $400 or $800 it was understandable because people had to just spend $400 or $800 to get one Bitcoin and $1,200 is super high profits when Bitcoin started from $1.
Every peoples including me are investing money to get profit. when Bitcoin Price is decreasing, peoples are trying buy Bitcoins. because Peoples know that Price of the Bitcoin definitely increase by more than double when it is increasing. it may be within one week or one month or one year sometime more than that. But the profit they will receive is much higher than what they can get from Bank interest if they deposit same amount in Bank.