Analyzing the reasons, it is seen that most of the newcomers invest in scam projects. They do not have the mindset to be patient. Think the first investment will become rich overnight. Very new Traders don't know about the updated news of the project so if they change the token platform later, they will incur huge losses.
This is because they do not really have the mentality of an investor, and investor is very patient and they let the opportunity come to them instead of the other way around, and if that means that they need to analyze hundreds of coins before investing in one then so be it, but a newbie investor invest in whatever has the most hype and it is popular in social media and it is obvious that someone with that kind of mentality is never going to become successful at being a trader.
Not all start on being a pro and we do all come from being a noob and losses is inevitable but doesn't mean that we wouldn't able to upgrade or enhanced ourselves on trading.