There is a popular saying that invest only what you can afford to loose. Some people are making the mistake of investing all their life savings into crypto and other ventures. Some people even went as far as borrowing money or even using their properties as collaterals to borrow money so as to invest into crypto. This is a wrong idea and it might cost you a lot.
Every investment has its risks. So consider the the risk involved by taking each step at a time and do not jump in once.
Yes that is true. A lot of them invest all their life savings because they hope that Bitcoin will continue to go up and they will use that opportunity to double everything they have, but it never works like that. Anyone who wants to do investment should do so with what they can afford to lose.