Many people think that bitcoin should move up in a straight line but this is not how the market works. Markets may show us many up and down before moving up and sadly people are not ready for these movements and sell their bitcoin before it reaches the all time high.
If we invest our money (in general) dont expect to profit in a short period and be prepared for the worse case situation. The problem for some investors who cant bear seeing their Bitcoin losing its value is lack of knowledge and patience. Thus they're tend to commit a wrong decision for not being aware of what they're getting into.
The reality is that they spend it on shitcoins and go broke.
Thats true. Believing these coins are the answer to be rich quick because of the high return in a short period due to hype. Not knowing they're likely going to be broke.