I am also speculating also that newbies and early crypto adopter are usually the ones who are losing their investments because they choose the wrong coins to invest.
in fact, most of the new altcoins today were just a plain whitepapers and having no working products and project that will be the reason to increase their Crypto market worth.
that is why I never invest on ICOs because most of them are just plain white papers and sweet promises and instead, I only invested for new altcoins that has working products like Oyster, next few days they will soon launch their main net that should be the reason to spike it's market worth value soon enough.