Great topic!
It's true when there's blood in the street....there's money to be made.
This market isnt full of investors...but mostly speculators.
Swing traders...Day traders.
People trying to hide money in Tether to limit loss.
(That in itself will implode one day)

Investing isnt a video game,and you nailed it ..contrarian strategies tend to work in downturns or expected ones.
Too many people get caught up in what's "hot"
Or what coin is being shilled today.

It is a young investment class in this market,note it was somewhat alike to the Tech Bubble was in the 90's.
-anything .COM made money...alike blockchain
-people invested with no due diligence (still relevant today)
-mostly speculators,day traders (same)
-a ton of investment 'gurus' back then...as is now.

Seems like History does repeat itself.

From my year of investing in crypto...ive noticed Bitcoin is the one coin to always keep in anyone's portfolio...
-Now it costs .12 to transfer (basically negating BCH main advantage)
-is still going to be the "one" crypto currency everyone knows.
-Is the one currency Wall st seems more interested to be invested in than any other coin (Sorry Charlie Lee)
-Volatility creates those different classes of investors you spoke of....though i must admit ive seen more of that last class (buy high/sell low) in this market than any of the years ive worked in the stock market.

My advice to anyone just starting is..
-Be careful,invest your starbucks cash not your mortgage money
-Think of this market like a day at a penny casino,expect to walk in with money....and expect to lose it all
-Do your research,there are quite a few fascinating technologies but some...well...that honestly haven't even been developed yet...in other words..it's just a concept. Though cool...doesn't mean you'll be making any money on that idea.
-Be aware this is a market where theres no regulation...shady exchanges...and full of dump & pump groups. So take everything you see & hear ..with a grain of salt (do your homework)
-If you're looking at your Blockfolio or Delta (much better) too much...means you definitely need to reevaluate your portfolio..OR you might not be cut out for this volatility.

Bitcoin is the king...we need it in this market more than anything...when it drops...everything does.
Build yourself Alt coin tier 1 to help throughout the upcoming pain in your portfolios (NEO/ETH/LTC etc)
Do your own research,read a few books and take a deep breath.

Life goes on.

Excellent video as always.