There is tons of ponzi schemes, mlm schemes, sketchy marketing practices and literal fraud and people fall for all of that. So you think when they’re about to invest into crypto they suddenly get galaxybrain and invest in the BEST cryptocurrency? Everyone has heard of bitcoin, which is why it gets most price attention, no one is gonna invest in some obscure named crypto they never heard of, especially when they heard there are scams out there. Can you explain altcoins in a 5 seconds tik-tok video? No? Well then don’t expect for average citizen to put money where it’s right.
Using price as indicator is literally confirmation bias, price very slowly adjusts to actual technology value, sadly.
It’s like someone starting new company and everyone is shitting on it because it’s small, it’s paradoxical, you can’t have new company beat old company instantly, it must occur through natural growth.