A lot of people are trying to copy the progress and advances of the big whales which are putting their tutorials of the proper investing everywhere on the web. The problem is that a lot of this advice come from the false millionaires which have just copied someone else advice an showed it to the crowd. Many newbies are attracted by the bits of advice which are promising the easy profit in the crypto market.

Newbies can in most cases be disillusioned because of their own unknowledge. Everyone that is investing in the crypto should know his/her own limits and only invest the balance that he/her can afford to lose. Investment is risky and not knowing the limits is fatal as the OP said.