Makes sense with the capitulation with the avg investor. Not sure what number that is for the pain to hit. A print around $5 -6K would mean a 75% from $20k.

Yes with the shorts short covering their profits would give a massive spike very true. Then they may go long or re enter short postions for the next leg down.

With the alt coins, I agree and believe eventually they will divert from BTC swings as many have superior technology to BTC and some have actual intrinsic value behind them.

Perhaps though like the 2000 tech boom and crash many Altcoins will eventually fade in the night and leave a handful of strong coins like the companies that make it through the wreckage. Ie Amazon, Facebook, Oracle etc with the Pets.com of the world to go.