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With regards to a crypto going up and people being late on the train, I think it is a normal scenario. There are people who are hessitant to get in when the price are too low because they are afraid that it might continuously go down and eventually die but once it rallies and pump hard, they are very regretable about not buying it. But I believe as long as that cryptocurrency have a solid team, community and real life usage, even though it crashed in value, it will eventually goes up due to the demand build up around that project.
Thus, the volatility of cryptocurrency is very large. Moreover, the market is not conducive, many fake walls, prices go up and down unpredictably. So that many traders prefer the safe zone, wait and see, because the risk of being trapped in a severe dump is even greater. Even if there is a bounce, it isn't too high, then it goes down deeper. A broad market network, demand and supply, project strategy, will determine the success of the project.