Trading financial instrument , derivatives have high risk , and having full knowledge of risk management of position size is a key to make a quality decision. The fundamental impacts news can make you rich or rekt you especially when the hype in social media get built up. Many people lost their portfolio because of lack of market structure. Not every dip or rally you jump into. These is my view why many lost during this Bitcoin decline.
People take irresponsible financial decisions all the time and unfortunately they pay the consequences, in most fields and circumstances of our lives we can take a bunch of irrational decisions and get away with it but when it comes to our money you cannot afford to make mistakes, and this is because in order to get a decent amount of money it will take you years and you cannot waste those years by taking dumb decisions.
But unfortunately people do not get this, they think they can get away with the same mistakes they do in their everyday lives and still come up on top and then when that doesn't happen they say that the markets are rigged or that they are unfair when they are the ones that makes those mistakes in the first place.