This is a sad story that I have heard. Through this story I want everyone to know 1 golden rule in investing is: never give financial advice to anyone. By the time you give them financial advice, you may feel like you're one step ahead of them, but if that advice is wrong, you could be the one hurting them.
A little correction from me about your assumption. I don't think financial advice based on someone's experience and analysis is 100% wrong. Sometimes it's true but there's always a chance it's not. The thing to remember is never to be influenced by a lot of other people's financial advice because we must have strong principles in this crypto investment.
It is true to say that any one's analysis and speculation about crypto prices is not financial advice, but it is only good for comparison with what we believe to be true. Have you ever had someone say at the end of their post about price speculation that this is not financial advice? If so, then that's the reason why we can't 100% trust other people's opinions.