Great point of view here.
It is true that 95% of all finances is psychology and perception. Once a brand or a system is reliable then the investments are going wild.

If we have a look at the short term, the bleeding markets are mainly caused by the issues with the slow and expensive transactions of Bitcoin.
But I am still optimistic about how well cryptos will perform in the long run, because Bitcoin introduced us to this technology but really is inferior in technology to other Altcoins. The technical gaps of Bitcoin is what gave birth to Ether.
I do believe that a coin such as Ether in the long run will be more sustainable than Bitcoin and people will trust it more.