When Nick says that he suddenly guessed the truth, he is referring to the moment when he realizes that Gatsby's dream is fundamentally based on a delusion and an unattainable ideal. He comprehends that Gatsby has been chasing an illusion and that his obsession with Daisy is built upon romanticized memories rather than a genuine understanding of her as a person.
This realization also sheds light on Gatsby's tragic background, his longing for a sense of belonging, and the self-destructive path he has chosen. Nick's recognition of the truth highlights the central theme of the book- the futility of chasing unrealizable dreams and the destructive consequences that result from living in the past.