another thing that influence the growth of numbers of traders is consistent income in a particular coin because it can make trader to inform other traders to know how favourable the coin is to those that is trading it in the market, but if traders are not making income from the coin, they will not advice other new or old traders to involve in that coin.
The influence of other people's achievements indeed plays a role in the increasing number of traders. Beginner traders are naturally attracted to the profits they see being successfully earned by friends or others. Unfortunately, they view gaining profit from trading as something easy and instant. When they try, I believe what happens will not meet their expectations.
I still believe there are more beginner traders who give up after a few attempts than those who consistently learn and focus on generating long-term trading profits.