one thing is for sure if someone is still loosing money in cryptocurrency investments, it's a lack of research upon doing what is and what's that throughout his investment.
You are right, many people just invest in a crypto coin without serious research about it. People commonly just check about the price history, they are interested to buy if the graph showed them it is at the bottom price point. They forget to check the development, programs, and current issues about the project. Whereas, it is a very important thing because it is a fundamental factor. If there is something wrong happened in the project, the token price can be falling drastically and hard to go up again.