Most people investing in crypto just want to put in $1 and take out $2. Trying to educate people about cryptocoins is practically a waste of time at this point - they just don't care. Events like these are bad for Bitcoin on a pure value basis, for anyone invested in Bitcoin.
Every dollar taken out of crypto is at the expense of someone else. Those coiners trying to change $1->$2 are heavily incentivized to lie, manipulate, and convince the naive in the public to put their $1 in.
You could say this is everything with a public market, but with stocks or bonds you also have a legally binding contract to organizational assets that have value. Buybacks, issuing new units, dividends, etc. provide other avenues for cash injection to get your $2 out.
BTC doesn't even have the bare minimum regulation to prevent bad actors from exploiting the public, which is why it's worse since the public only sees coiners trying to whitewash an inefficient database.
You’re thinking about short term traders who want to accumulate more $USD. And sure, they are one actor in the bitcoin eco. Others use bitcoin as their primary currency. And still others would prefer BTC as their currency but, due to tax laws and infrastructure, are hindered from doing so.
You’re judging all current btc owners by bucketing them into one easy-to-consume cliche. Not all btc users give a shit about more fiat. Considering the buying power of fiat is a perpetual dip, it’s not exactly the best thing to accumulate.
While some crypto-enthusiasts are using BTC as hobby money (in which most payment processors convert to USD right away anyway) the vast majority of people using BTC are speculators.
That's just my opinion, though.