Besides those four reasons, I think that there are also some other reasons why often losing money when investing in cryptocurrency:
5. Don't know enough what is invested in at that time because only following any hype
6. Doesn have any target of price or range of period to take profits
7. Some greediness
8. Investing but too panic when the prices fall down
Not knowing what they are investing in because just following the bye would be a fatal mistake. they don't know their money is at stake in it.
Some greed also arises because some beginners do not have experience. also have not prepared strategies and price targets that must be achieved.
As a result they will panic when the price starts to fall. This panic will give them a loss because they start selling it at a low price without making a profit.