In my opinion, one of the reasons altcoin isn't growing right now is because of the lack of new investors as you said. indeed lately many altcoin prices have experienced very significant price declines. hopefully early next year altcoin will grow rapidly and investors will grow even more.
Yes, it can be said that many investors today are afraid to invest, especially with new projects. as we have seen many new projects are scams. on the other hand altcoin currently tends to decrease in the influence of several factors such as the lack of investor adoption and the price of major coins which do not rise significantly. if BTC can penetrate $ 10 thousand or more, maybe altcoin can follow the price movements of the BTC.