Digital currency Bitcoin hits new high before losing S$200 in value in one day

[weijian]

Yes. Does seems like end of the road for most alt coins. BTC and ETH will likely survive (too much vested interest by institutions and people with strong financial backing).

Let's hope that the contagion will be contained within the crypto market, and not spread to other financial systems.

Personal price target (assuming perfect bell-curve):
BTC: US~$10k
Eth: <$1k

(no positions, slight exposure through Square and Tesla)

I reckon "mainstream" coins like BTC will survive based on the Lindy effect. It has been around for close to a decade and suffered a few crashes on its own (and survived). So there is some sort of anti fragility built into its system.

While I have no faith in BTC as an asset, but I do have faith that humans will continue to use BTC as the vehicle to gamble and try to get rich.