If people got in during a lot more calmer moments, they could have walked out with a lot more money, but people like to get involved when the market is at its highest the most and that makes my head dizzy. Oh bitcoin has been around 10k (around 5-15k range at best) for 3 years? Who cares I am not going to even look at it. Oh bitcoin is at 40k?? I should get a loan and invest into it!!!!!!!
Quite a lot of people only invest when there's fomo, and that's cause they don't believe in the network, neither have they taken out time to research about Bitcoin or a history of it's price movement, they rely only on speculations and media hype, and Bitcoin gets plenty of that during a spike, and thus, those people miss out when the price is pretty low and only ignite their interest when price is at its highest. I would not call such people investors, they are just after the hype and quick profits.