Since the percentage of stupid people on this market is not too high, because cryptocurrencies are not for the stupid people but for the wise. I can say with confidence that humans stupidness are not one of the main factors that affect the price.
There are many intelligent people in this market but that does not mean that people do not make mistakes after all we are not perfect, also some of the most important mistakes people make have nothing to do with your intelligence but with the management of your emotions, for example panic selling, most people know they should not sell in panic but when you see the market crashing 70% it is very difficult to manage your emotions and to not sell in those circumstances.