A lot of investors today who are number 2 started off overly aggressive and bought into the different altcoins that promised to be the next Bitcoin. Likely, they entered the market during a bull run when crypto was at the top of everyone's lips like in late 2017 and dives right into the ICO bubble which was growing larger everyday.
After getting burnt a couple of times and losing some money, maybe gaining some more, but over the next couple of months they moved towards more stable coins like Bitcoin and aggressively went into it, moving most bb their profits from other investments into it.

The first guy usually stays the same.