The same thing is happening now. Some people are thinking this little pump is a trap because the bear market will come again. We are seeing the bear market condition from the March month to now. In these times, we gather many failed prediction experiences, a lot of ICO scam experience, ETH at 167 USD experience! So, Some people can think easily this little pump or the bull market is nothing but a trap!
I think that the market is not yet ready to turn. Perhaps this will happen in mid-October, but I'm not sure about that ...