I agree with you but when market raise investors forget about all risks and hurry to invest not to lose the potential profit.
That's FOMO. People buy when the market rises but they don't do anything and just ignore the whole thing when there's not that much movement. It's already attached to the knowledge and attitude of everyone who's quite new to the market for having this type of mindset.
They don't know that the risk is higher when they FOMO.