People who are new to crypto likes to gamble without having a good knowledge and understanding about the market. This are people who are mostly interested in shitcoin, are people who are also genuinely interested in buying and selling and trading because of ignorance not knowing how much they are losing in the market. Most of them are just interested in buying all kind of different shitcoin and be watching them regularly as soon as they see that there is a little profit they sell immediately. They don’t know what they are doing, if only they knows that they can actually buy bitcoin and invest and hold for a long time and make more profit, that is why I see this single act of desperation of investing in shitcoin as ignorance.
The most danger is they don't think they are gambling and most of them calling themselves as investors or traders like in fact they are gamblers.
Without awareness of what they are doing, they can not have appropriate management on their capital and will continue taking more risk. It only makes things worse and worse until a day they realize it through their big losses and perhaps it will be too late for any correction when they have empty balance after all.
Investment must start with good knowledge, deep learning, then enough practice for their risk control, capital allocation and management for their investment portfolio. Bitcoin grows with time in adoption, value and price so if they can have good management and they are able to hold bitcoin in right ways - in non custodial wallets, off centralized exchanges, they will be in their good investment adventure to profit and better wealth.
It always depends on who is introducing them to investing in those shitcoins and what the person might be telling them, a newbie's mind is like that of a new born baby who doesn't have anything in his brain except for the new things he is learning. So newbies that are not mentored rightly coupled with the mindset of making money quickly are mostly victims of this scam coins. You know experience they say is the best teacher, most of the newbies learnt how to properly invest in the right coin in the hard way, so the knowledge and deep learning process and their risk management some of them have gotten for those that had to mindset to seek for the proper coin to invest in, came from the experience they've gotten from the beginning of their investment journey.
So for some of the big investors we have today in bitcoin, they didn't have a smooth ride, it was from one learning process to another until they finally got it right.