True that, but most people are in it to make a buck, then out. Not everyone sees the long term prospects, or they're not interested. Some would have bought a week ago and sold today at the peak and made ~30%. I guess that's a good gain, so you can't knock it. The rest of us are in longer term because we're a miner, and we have a LOT of nickel in a world that's switching to batteries at a very fast pace.
Indonesia has lots of nickel, but it's knife & spoon stuff, not sulphide like ours. We'll sit and wait for the market to recover. The good side is being gifted plenty of buying time whilst everyone has the jitters.
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