I consider Shitcoin investment like gambling, no matter how much people understand if they convert their fiat to shitcoin then the loss will be much greater and the profit obtained is just luck, the throne for the long term is still held by Bitcoin and will remain like this, Bitcoin can create sustainable ATH that Altcoin or Shitcoin cannot do. And those who behave like this mostly think Bitcoin feels expensive so they often turn to affordable investments but they forget that there is a DCA strategy that allows purchases with any budget.
Yep, you are right but it seem people like to gambling in altcoin investment so they still search for the shitcoin as their investment. They don't realize in the long term, Bitcoin will be the best investment for them but that will be up to them because we can only suggest them without force them to follow us. They forgot that they can buy Bitcoin in a small portion and not have to buy full 1 Bitcoin at once. They can even use DCA method to have Bitcoin as their main investment and just focus with that for some years. Let say that will be for 4-8 years and just buy Bitcoin constantly using DCA method, no matter if that money is small or medium or big amount.
because they just want to invest and start making profits but that is not the way with bitcoin because inasmuch as you invest in bitcoin for long term achievements, you are unlikely to lose your money and you can invest with any amount that is available, then you can buy continuously by using the DCA strategy and before you know you have gathered a lot of bitcoins within 4-10 years interval.
The three major reason people invest in shit coin is greed, ignorance and misinformation gotten.
The veterans investors mostly falls under that aspect of greed because they knows how dangerous it is, but they still venture into it due to greed for 10x or more, while the ignorant investors are mostly newbies that just thought that it's the best way to make money in the crypto space.
Then as for the misinformed ones, they are mostly newbies also but they are in a very difficult situation to come out more than the other two because a wrong knowledge diluted can change the whole narrative of an individual about something, and sometimes trying to redirect that person to the right path can be very difficult and challenging because people really finds it difficult to unlearn the wrong thing and relearn the right thing.
As for the bold words in the beginning of your write up, your point is valid not doubt, but I think that it's mostly Investors that have traders mentality that falls into such category, because they just want to make quick money without paying attention to the risk attached to it.