It is like a pendulum, you want to aim it to hit the target, but it overshoots and goes way beyond.
We overreact and then we panic.
Technical analysts and classical economists keep their mantra that the market is efficient and rational. I beg to differ, behavioral economics is a better approach to understand markets.
None of the altcoins is worth what they are valued right now.
People are not using it, there is no commerce, there are no implemented solutions, there are no demands for its utility.
They are just essentially bets on its theoretical potential, fueled by pure speculation.
Monero is the only one that could be justified for having become the currency of choice for some dark marketplaces.
MaidSafeCoin for some reason has not participated of the irrational pump and dump, and it's been evolving at the same pace of its software development, it has been a steady evolution. It looks really healthy, in my view.