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I often see people using the previous ATH to justify how much a coin has left to grow. This is a reasonable metric on paper, but you must understand the feasibility of reaching that level in the first place.
Some of you may remember Primecoin. Some of you who've known of it since way back may remember that it surged to an ATH of over $7 in December 2013, about 28 times its initial price when it debuted. It then experienced a precipitous drop, and has never managed to reach it, its closest attempt being the December 2017 bull run when it reached about half its previous ATH. It is currently valued at around 5 cents.
That may be a more extreme case, but the point still stands that an ATH may be more indicative of the frenzy at the point reached, rather than an evaluation of the intrinsic value of the coin.
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