Over the years, countless people in this space haven't noticed a strange pattern in themselves.

They buy a coin, any size.
If it drops 10%, they don't sell.
If it drops 20%, they really don't sell.
There's never any stop-loss, neither hedges.
They refuse losing, being wrong. It's that ego they claim they don't have.
They simply learn to say "it's a healthy correction before the moonshot" not really understanding what the world "healthy" even means.
The deeper it goes, the more impossible selling feels. Not because they believe, but because they're trapped. Many say "i believe" but when there is a crash sending price a lot lower than their entries they are scared, not buying anything if there is no hype in the space, so do they really believe?...
They don't understand investing, neither risk, neither the meaning of cutting losses. There is no plan, only hope. Hope quietly mutates into prayer, begging the gambling gods for a miracle that turns pain into profit.
The market doesn't punish them for being wrong. It punishes them for refusing to accept they're wrong.