Like the old $2 movie theaters, they always had a full-house. As the price decreases, the greater the number of people that will consider buying. However good that sounds, that thinking seems to be only theoretical, not reality. [I hope this finally happens someday.]
What usually happens though is the opposite. Call it the 'feeding-frenzy' phenomenon. As the price goes up, it causes more people to jump on the buying bandwagon because they don't want to be left out, no matter how high the price increases. Likewise as the price decreases, more people sell because they also don't want to lose even more. Both of these buying-selling trends are with people not looking for long-term protection, IMO.
You already know this, but there may be some who do not.