Pretty sure most people didn't buy BTC at $20K, which it never actually even reached. It didn't spend much time above $19K either.
If you look at the charts, it didn't even spend much time above $16K or so.
Most people lost huge sums of money because they invested in alts which are like 90% red. Look at Ripple or Dentacoin or what-not.
I assume most invested at like $12K and its half now, so its only a 50% loss. However the alts are a different story.
We can say it is really a bad day for people that invest in the higher amount I can feel their sentiment because I have known someone that invest the same way, They are thinking that the price would surge even more, But it drops a bit further, Just like one family in the article that have sold out all their properties, things and everything related to fiat currency to buy bitcoin and live in some urban place just like the stone age did, But again I think they will need to just wait another bull run, Or they are regretting doing so,
And for Altcoins there are many that invested in altcoins and gain even more profit I really think it depend on the situation and what altcoins to choose.