There is diverse of people with diverse habit and approach to life, while some are good and strategic planners and thinkers, some does anything that enters head without cross examining the after effects. Some do things because their mates, peers or colleagues did same thing.
Those desire to meet up with trend or mate has made so many lose a nice virtue called contentment. Contentment keeps you ease and allow you to plan well without settting yourself up for distress.
I have seen some people plung into huge debts in order to own 1 btc, those that took loan to own 1btc when it was at $50k, what will be their fate today and how long would they have to wait to hit $50 again. We should learn to plan and invest in our different paces.
Investing is never justified using other people's borrowed money, this is not a financial freedom solution, but plunges yourself into new problems.
Investing also requires planning, maturity and serenity in running, how many people have money, but they are not necessarily ready to invest in crypto, because they are aware, to get started requires knowledge, strategy and understanding of investment patterns.
The fate you describe is even worse, if one cannot generate returns.
What you say is absolutely true, but unfortunately a lot of people do not understand this principle in investing. They don't have background knowledge but want to invest in bitcoin with get-rich-quick mindset, which makes them pay dearly when borrowing to invest.
If people actively equip themselves with knowledge, given the strategy, and plan all our investments, we will never see panics and dumping happening in the market.
Bitcoin belongs to everyone, but the way everyone perceives it is not the same makes many people always skeptical about it without knowing that the problem is with them and not with bitcoin.