the "wise answer" is that nobody knows.

all we know now is that we are on a downtrend and price will continue going down until it reaches a bottom where it can no longer break. by that time we will see an extreme surge of FUD about bitcoin and how it is dead. then price will reverse upwards and as the confidence comes back we can see the bull run start.

this can take a short time like 1 months or it can last for a year. again we don't know that either. at this point it is unpredictable. you can make a lot of guesses though and they may come true too but it is a "guess" still.

what you need to know is that nobody is guaranteeing Tether to have the same value. for example the company behind it  will not guarantee 1 USDT to be 1 USD. so don't count on it.
but also know that in the pasts the price of it was 1 USDT for about 98% of its lifetime.

additionally they do not guarantee exchange of USDT and USD although so far it has been possible.

and finally it is centralized so everything about this coin depends on health of the company that issues this coin. if someday this company disappears price of this coin will drop to 0 immediately.

i don't think anybody has a problem with what you "think". you are entitled to your opinion but the problems start when try to force it on others specially newcomers.
like when newbies come to your website (bitcoin.com) and you sell them BCH when they thought they were buying bitcoin!

prices went down all over the market when the ban news was being spread all over the internet but the drops were not the reaction to the ban news, the drops was happening and this FUD only increased them.
people think they were though, and that is why they are excited about this news and think price can go up!

well if you want to compare then at least do it honestly.
first of all Visa is not money, it is credit or better said IOUs.
secondly it takes for a merchant up to 3 days to receive a payment that was done through Visa network. so in comparison bitcoin takes 432 times less time to confirm. so Visa has to half, then half,... until it reaches bitcoin speed.
third when you pay with bitcoin and it is confirmed then you can no longer "charge back" but all the other payment systems have this charge back option so the merchants are always in danger of fraud and it does happen every day.
forth just because you think bitcoin won't take off doesn't mean it hasn't already happened. there are millions of merchants that are accepting bitcoin. from small shops selling crap on the internet to big corporate like Microsoft.
and finally using lightning network is not "bypassing" anything. it is a layer on top of the main protocol.

i honestly don't see any strong support for bitcoin for a very long time and that actually is why price is not going any lower because the real money has mostly gone away and when that happens the whales don't have anyone to sell their coins to (dump to crash) and they have nobody to buy cheap coins from so they have no more incentive to manipulate and dump. if they do they will be fighting with each other and won't make the same profit as when newbies are in.

this drop is 90% manipulation at this point and 10% money going away. otherwise all the analysis that has been around for over 6 months has been pointing to a much higher price as the bottom (i am not talking about FUDsters who called their bullshit analysis, but the real analysis from legit sources).

the market itself can not disappear but the participants in the market can and will disappear. by participants i mean the people trading in the market and also the coins that are in the market.

for instance every year we have at least about 100 altcoins that die and go to the altcoin grave yard. you can search the graveyard and see the long list of them.

there is nothing wrong with the "algorithm". but there are a lot of things lacking from your knowledge about it.

1. transaction speed does not get any faster than this. it takes a couple of seconds for the transaction to propagate throughout the whole bitcoin network which is a global network of nodes. it is less than 5 seconds.

2. confirmation speed as above posted mentioned is determined by the time between blocks. and that time is a somewhat fixed time. bitcoin is designed in a way to have 2016 blocks every 2 weeks which translates to 1 block every 10 minutes. this doesn't change with more or less miners. when the number of miners (or more accurately the hashing power) changes there is thing thing called "difficulty" that changes so that we get the same 2016 blocks every 2 weeks again.

3. whenever you pay a fee (minimum amount) in the past 9 years in 99% of the history you could have gotten your transaction mined in the next block which is 10 min on average. but in 1% of the history of bitcoin we had spam attacks which filled the memory pool with a lot of spam transactions and created a fee war which meant you had to pay a higher fee to get a high priority.
and you are confusing this short period which has been over for about 6 months with bitcoin being slow!

ETH is doomed to fail eventually and everyone, specially the developer of it knows that better than anybody else. it is a broken project that is out of hand at this point. sometimes you have to abandon and let bad things like this die so that a better thing can replace it.

i think ETC has the best chance at it also. because it is the original chain and also it can learn from the mistakes of ETH and don't repeat them. besides the blockchain is not that huge yet so it can survive the future unlike ETH with its huge blockchain!!!

existence or non existence of 99% of the altcoins would not change a thing, literary. apart from the obvious fact that some people will lose their money that they have foolishly invested in those coins. and that is actually a pretty common thing that they coins are either get lost or the altcoin simply dies and the whole thing is considered "lost"

$5878

why? because that is the bottom that has happened in the time frame that OP mentions and although there is a chance that price may still go lower but i am going to go out of limb here and say that was the bottom (price on Coinbase) and we won't see any lower.

ps. maybe you should come up with some sort of sharing rules if more than 1 person called the same bottom.
p.ps. you should maybe clarify which price you will look up for comparison. different exchanges have different prices/bottoms.

just because someone predicts some price and it comes true it doesn't mean they are good at "predicting bitcoin price" and it certainly doesn't mean their future so called predictions are going to also come true.
you can roll a dice 10 times and win in a dice gambling game but that doesn't make you a future teller.

they are ranking these coins based on centralization and the control they can have over them. Ethereum has been the most centralized coin and they plan on fully controlling its future specially with the creation of ETH ASIC machines for mining it they will soon control 100% of the mining power also and will dictate the future of it.

bitcoin shouldn't even be in the list. probably it belongs to rank 1000+ in such a list. they have included BTC only to hide the fact that their ranking is based on what i said above.

i don't think bitcoin being "supreme" or "king" has any effect on altcoins. if they were good then they would have grown in spite of bitcoin and whatever it is doing.  the problem is that altcoins are no good.

and it is the same thing everywhere else too. for instance just because Apple exists and creates good cell phones it doesn't mean Samsung can not grow big and gain users. Samsung is also considered a good smart phone creator and millions of people use their product. but a Chinese company creating shitty phones is not capable of competing with them.

ethereum is too broken to be able to overtake anything in this market. its market capitalization is huge because it is fake. it has more than 70 million coins in premine which is contributing to about $35 billion of fake market cap and then there is the fact that ETH is currently pumped and is in a bubble. if the bubble bursts we should see another $40 of its market cap vanish and it go back down to $5 billion market cap. if then you remove the fake premine supply you will have a $3 billion market cap coin which is the real value of ETH at less than $100

lets assume they are. the following conclusion is still DUMB as shit.


for every satoshi that these shops sell on the market there has to be someone else who buys them so there shouldn't be any disturbance in the balance and 0 change in price.
you buy 1 satoshi with your fiat, price goes up, you pay the shop, the shop sells that 1 satoshi price comes down to where it was == balance.

not to mention that YOU buy bitcoin from the exchanges which means price will go up.
but the SHOPS don't sell on exchanges which means their sell pressure won't be felt on exchanges so the first step (the rise) is there but the second (drop) is not. so if anything price should go up

.... which it does because it is how adoption works. last year about 500000 merchants in Japan started accepting bitcoin so price went  from about $1000 to $6000

1. the "countries" will never buy cryptos. specially not altcoins. nobody wants to put their money in shit unless you are small time investor wanting to make quick profit from pump and dumps.

2. there is this law in many countries (some of which are among G7) that prohibits banks from investing in any sort of cryptocurrency.

3. you say THEY are dumping to crash the market, that suggests they already are whales with a lot of coins. so why would they want to buy more? they can make a lot more money by just pump and dumping in this area, there won't be any "bull run" if your theory is correct.

4. there is a much easier way of making a LOT more money. and that is creating their own shitcoin. for example something like ETH which already has the bankers behind it and make millions of dollars from its premine/ICO shit and the the follow up pump and dumps.

just because you have only used the blockchain technology for criminal activities such as buying drugs to smoke your brain sells it doesn't mean that there is an "anonymous" structure to the blockchain technology.

the worst part is, when you say blockchain technology majority of the projects like bitcoin and about 1500 others are NOT even anonymous. the transactions are right there for the whole world to see.
the rest have anonymous features and only one or two of them are actually good.

my advise is to stop smocking drugs and start learning more before starting topics like this.

there is a lot more bad things about this crash than there are good. the same way there were a lot more bad things about the huge rise we had from $10k to $20k than there were good things.

you can always argue about the good that will come out of it to satisfy yourself but in the end this kind of volatility and this massive level of manipulation that is going on these days is more harmful than ever.