IMO BTC is going to continue to trend down and settle around a range of $4,500 to $5,500 at a new psych level. Reasons are slow adoption world wide from other countries than Japan and growing competition from alts.
I do not see any altcoin that has the potential to challenge bitcoin in any way and i could not see any alt coin making a huge rally when this market is down , the main reason for the stagnant market is because of the regulation talks being going on for a while and unless we have a clear picture people will have two thoughts before investing their money into this market.