I have met people who buy many coins at the same time and then lose all. They do not analyse what is actually going on in the market and they buy them just because they heard someone saying buying cryptos will give them profits.
Yes you're right, going through a thorough research is very important, not that one has to believe any news released online about coins but your personal conviction will discern wether to invest or not, although our personal greediness also contribute to many loosing their investments, some coins can be successfully launched and last just for few months before folding up, for those that are smart enough to withdraw their coins before it crash will realize profit while those that are greedy enough to wait longer for the coin to eventually rise higher fall the victim and the value run down to the lowest level.