The previous bear market had a significant negative impact on altcoins, but it didn't kill the market completely and didn't kill trading either. This time around, some will also lose their market capitalization and never return to former glory, but others will remain and then experience growth along with Bitcoin when it starts recovering.
I agree that regulations are the future, but regulations should be centred around protecting customers from losing money by big oversight of operations of companies like crypto exchanges, not on penalizing users, depriving them of privacy and restricting their options. Moreover, regulations should not extend the practices that are related to other businesses, so that they remain reasonable and fair.
The problem is that not really a big chunk of population is involved in crypto right now.
While crypto is the future, but most of them are not concerned.
I assume there will be a tussle between the holders and regulators for establishing their authority. sadly I assume anonymity might get compromised due to security concerns, but decentralisation is going to stay here.