Even my tiny shitcoin holdings percentage allows me to lose big (in bitcoin equivalent) whenever there's a massive spike up, like the one we all saw recently.
And consider I am 95% on bitcoin!
I can't and don't want to imagine what other people might have seen if heavily invested in altcoins. Maybe they don't care about the btc price of their holdings and only look at the fiat equivalent: I don't care about it, I only want to preserve my btc stash!