One thing for sure, is that prices don't reflect a cryptocurrency's legitimacy. I've seen many worthless altcoins being pumped in price across the market. But they turned out to be failures over time as they were unable to provide real use cases for the mainstream world. Nowadays, people are focused on making money than using crypto's core Blockchain technology for their own benefit. They don't care if a project is hyped or inactive in development and innovation. As long as an specific cryptocurrency fills their pockets, nothing else matters. When a bear market comes, they come "whining" across different social media platforms (this forum included) because of undesired losses. Shame on them for not doing their own research.
Besides, crypto is not about price but rather how useful it is within the mainstream world. As long as a cryptocurrency project focuses on decentralization, censorship-resistance, and security above anything else, it'll do fine regardless of its price on the market. The fact that most people are using Fiat as a unit of account to determine the value of an specific cryptocurrency, brings speculation to the entire blockchain space. If you're smart, you'd take your time to performing a research on the project's team, development efforts, and long-term vision before making an investment decision. That way, you'll reduce risks as much as possible when a bear market comes into play. With or without a bear market, crypto will stand strong as an alternative system to the world's monetary system. Just my opinion
You are spreading misinformation.
Prices do reflect the legitamacy of a coin. Look at Creditcoin for example
invested in by coinbase, y combinator etc
already up 6000% this year.
If it wasnt legitamate why would the price increase that much?