There are many indicators that people use to tell you why bitcoin will go to an ATH soon. Still in reality it all comes down to supply and demand. There are constantly new people in crypto and if prices go down you can get more crypto for the same price. So at some point there is more money than bitcoin and prices will go up. We just have to be patient and wait.
Great example! I used to know one person who was engaged in MLM (multi level marketing), he did not always have good results, but he always blindly believed in success. Once I spoke to him and asked where you have so much strength and faith that you will succeed, and he answered me that new people always appear, every year young people graduate from schools, colleges, they look for work, dream and want to achieve something In this life. And if I can't build my structure with the people I'm talking to now, then I'll build it with new people in a few years.
I think that this can be applied to bitcoin too, every year more and more people learn about it, every year there will be more people who are willing to own any part of it and in the end we will only have to wait until the moment comes when its price is again will start to grow.
We likely need to keep in mind that frequently there can be a difference between items that might be highly marketed and items that actually have substance, so part of the ongoing battle with bitcoin seems to be that it has strong fundamentals and likely substance in terms of various aspects of its utility to have the ability of individuals to be self sovereign with their money and also likelihood to hold and increase in value in the long run - while at the same time, a lot of the bitcoin imitators rely heavily on marketing and the perception of value - contributing to confusion in a variety of ways - including that frequently very smart folks are likely getting behind pump and dump shitcoins (and vaporware) that sound good on paper but they frequently are not developed but instead meant to take advantage of people... which causes additional confusion regarding the extent to which bitcoin differs from the snake oil products.
In other words, networking effects do contribute to bitcoin's ongoing growth - but at the same time can be used by scam products to give the appearance of both growth and value.. when there may well not be any substance behind some of the products that appear to be adding value.