I think it is safe to say that most of the people who lose their money to crypto are the amateur crypto investors.
I stand to be corrected If I am wrong.
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While their are lots of people who have made millions in the crypto ecosystem their are also people who have gone bankrupt because of cryptocurrency.
To me those who lost their money to crypto are amateur investors who do not have adequate knowledge in what they are investing into before they invest, while those who made millions are either crypto experts or people who know a thing or two about what they are going into but the best is to have adequate knowledge about it before investing.
Amateur crypto investors tend to sell in times like these when they should be buying or holding their crypto. If they can just hang on that would be a big plus to them when the entire crypto market eventually rises.
Here are the main reasons for me why amateur crypto investors lose their money to cryptocurrency.