Because all they think about is making a big profit in a short time and only seeing the price go up and after making a purchase they expect the price to continue to go up and it turns out the opposite.
as I know the majority of beginners make mistakes like doing something without being based on adequate knowledge and analysis with their goals, and end up losing in a short time.
People seem so confident to buy asset when the price is high because they believe the bullish period will continue and they ignore so many risks that may occur in trading. This belief is possible only because the bull market this time has involved so many institutional investor that it has led many trader to believe that price are continuing to rise. But what is happening now is the opposite and the price is gradually going down and there is no certainty that it will recover any time soon.
However, there are still many people who believe that bitcoin still has the potential to grow bigger than what has been achieved now and that it will affect other crypto asset at large and make the market capitalization increase.
I think it is certain that many will have more confidence in the potential of bitcoin to grow in the future. No matter how they look at Tesla who has invested 1.5 billion USD into bitcoin, can't that convince everyone about the future of bitcoin how?
However, if it is not a long-term trader, then in this case it needs to be corrected again when we buy at high prices even during the bull run, but we have to put aside how the risk will occur, which is the most important in such a way today, we still need the name paying attention to how the movement happened, I know that at a time like this, there are many people who fall into the trap of this gradual decline.