The fact that there are like 10-15 coins and tokens that could break their ATH and make people as much as x10 returns on the next halving or at least when the next cycle begins, makes people really crazy. I mean just think about it, if you could make some money and put it aside for around 2 more years, you will be able to get 10x return on that investment.
This makes people invest as much as they can, literally as high as they can and in return they are hoping for 10x because it has happened 3-4 times already. This doesn't guarantee that it will happen, and they may pick the wrong coins. Like people who picked XRP before 2020 pump started, it never broke its ATH again since 2018 period.
Unfortunately this also causes people to invest non-caringly and lose money as well. If you are investing money with "one day I will 10x" in mind and see the prices going down, you will end up not being so great and that seems to be one of the biggest problems people are facing right now.
However, if you know what you are doing and you could let the investment mature as long as it needs to then you could make a profit for sure. This means people need to realize that yes there is a 10x chance in the future for top 10-15 coins but that means you need to be willing to wait for it, if you do not wait for it then you will most likely end up losing money.