I have written many times that most of the market is made up of people who came here purely for the sake of fast money, who are ready to make stupid and rash actions at the slightest price movement.
That is not rare every time there is a bubble many people decide that is the way they are going to become rich and then lose everything, this has happened many times in the past and it will keep happening in the market of cryptocurrencies since it is impossible that the current prices can be maintained for long but eventually the market will become more stable and we will not have to deal with people like that.