It's still a young market, but many prices are seriously inflated or based purely on speculation. With value investing (the best kind of investing in my opinion), an asset is weighed against its underlying value. To say that the EOS platform is worth $400 million right now... that's tough. When prices reflect so much of future expectations and so little of actual use, that's when its important to be wary. I don't disagree with you regarding more investors getting in in August, but just providing an alternative view.
RE: "All This Has Happened Before.." - FAQ on Why the Cryptocurrency Markets are Down