The so called current sitiation of cryptocurrency, in my opinion, happened many times now in many instances since Bitcoin was invented and many coins were created after that. And it continues to this day, where many companies and projects compete for investors to invest. We just have to learn to know the trends and to know which projects to support. Everyday is always a challenge.
Yes this is really true. This also happened in the previous years, since there were so many crypto coins that were being created, so many projects that were also started but sometimes it didn't lasts or they failed. As investing into cryptocurrency is very risky, I agree that we should really look for a project that we know it will become big and successful in the future to support with.