People get hooked, quit their jobs, borrow more money and if they timing is off, well you know how it ends. Look at how many people were expecting $100K and most never took profits in the $60k. Same with those AMC and GME meme stocks.
Wrong timing that leads to failure can be attributed to both bull market and bear market at the same time, but the most important thing is to study the market and build up resistance skills. Well if the trader failed to cash in at the pick of the bull market but didn't sell during the bear market and the asset is in Bitcoin there will be some hope.