~snipped~
The problem is that newcomers think that just because these shitcoins are categorized the same (all including bitcoin are cryptocurrencies) and since bitcoin has gone up then they should too.
One way or the other, we all also thought as these present newbies. If no one did, I did in 2017 when I joined the crypto industry. Oh! How I used to acquire cryptos worth less than a cent, hoping they would fly into exaggerated profit like Bitcoin was doing at the time. I never knew what a usecase or utility was. Didn't even know there was something like that. I believe these newbies will also learn. However, one of such tokens I got at that time was dogecoin. I'm lucky to have benefitted from it, anyway. I guess it's the only one I bought then that I made a fortune from. Again, there's a reason Bitcoin stands on its own while other cryptos are referred to as altcoins, including ETH.
I am also among those that once had such belief in altcoin before I know Bitcoin and I am the newbies back then that joined this forum through my research about a certain altcoin but glory is to God cause all this change after I know this forum.
However, the case of the majority of the newbies we have these days seems worse because they never take their time to do research about cryptocurrency they only believe in the act of making bucks through crypto.