Yes, panic buying during a huge pump, and then panic selling once it crashes (aka "buying high and selling low") is also extremely common. It is INCREDIBLE to think that even with the massive gains in crypto so many millions of people actually end up LOSING money due to terrible decisions and having zero mental discipline.
Look at DOGEcoin millionaire...dude went from $3.6 million to now like $500k, and $250k of that was a loan, so its actually less than $250k after fees and interest payments. This is what happens to people who dont bother to learn!