I think that the glory days of altcoins are gone although nothing is impossible and we might see the return of the era of massive pumps that can sustain before they would eventually die or stop reaching ATH, except perhaps for top altcoins like Ethereum, BNB and Solana. For now what I can say is that any investors that are buying altcoins should be very cautious not to get carried away by project hypes to commit enormous funds more than they can afford to lose because many altcoins don't have what it takes to survive, they are mostly scams.
I agree that altcoins market is overcrowded now but still we can pick out potential coins like Ethereum, but since it didn't meet it's investors expectations in the last Bitcoin bull run which didn't last I think that it is better to hold and wait for it to become bullish and hopefully reach ATH.
There are countless number of coins in crypto market but investors interest is concentrated mostly in Bitcoin along with few top alts like Ethereum. The reason why investors are investing more in Bitcoin is because alts price is totally dependent on Bitcoin. We have seen in past that even top alts like Eth price didn't went up like the price of Bitcoin and due to this reason investors are focusing on Bitcoin alone. If you are investing in new coins that are driven by hype only then you are deemed to lose your money.
