Altcoins have been in a severe bear market that has destroyed the faith of most investors, particularly the ones who invested in the last two years. But next bull market will be back soon and should be bigger.
It is after all a cycle of happiness and sadness. The following is an all-too-familiar emotions running in the Bitcointalk forum.
I think we are in step 14 with some remnants of 10, 11, and 13.
Every single time that I see images like that I cannot help but chuckle a little bit because it is so true, and you can see this especially in the speculation forum where people are making all kind of predictions about what they expect from the price of bitcoin, however when we take into account the most popular opinions that we hear in the forum I think we are a lot closer to the 7, 8 or 9 step in your graphic because I still see a lot of people that are very positive about the market outlook.