The main reason this is the case is because there are no professional financial services providing investment options with cryptocurrency. Few people create their stock portfolio on their own, they leave it up to a mutual fund or an actively managed fund to do so. There is no option for this with crypto, so people have to build their own portfolios. What you get is the same as if they just blindly picked stocks. It's easy to do well when the market is bullish no matter what you pick, but once the weaker coins start losing their hype, I think we'll see quite a few big losses.