The problem with a lot people here is that they take opposite actions (e.g. sell when the price goes down, buy when the price goes up, etc). Another thing is that they gain confidence when the price is sharply increasing, where they mostly buy in panic, and that mostly also happens to be close to the top price. It's just blindly buying a.k.a gambling in the hope that the price goes up further, but they of course don't see it like that. And yes, as always, it's Bitcoin and the manipulation that receives the blame. These people should stay far away from trading Bitcoin as it is for their own safety that they quit. But then again, the losses from these people land into the hands of a few smarter traders.