IMHO, if there was less altcoins, bitcoin wouldn't have decreaased so much.
Looks like the cryptocurrency world become a place where everybody says about every coins "I'm sure this coin has a great future!" So everybody (me too), just buy or mine some cryptos, hoping that it will "skyrocket soon" as we can read everywhere. Everybody says that his crypto is better than others because the previous one didn't take care about this or this and this crypto is different and bring new solutions to problems which could exists, but the problem is not here. The problem is that cryptocurrencies are still not used as a daily solution. The same about the bitcoin. In my mind, the price will get x2 only if it's really used 2x more.
And maybe, in the future (1, 2, 10, 100 years?) cryptos will be used by a lot of people. But for the moment, it's just a speculation bubble (I must overemphasize) and the value depend too much about selling and buying. Who, here buy any goods or do any transactions with cryptos? So, for the moment, it fluctuates. It's still just an investment, so it fluctuates almost randomly. Actually, why would you want bitcoin to reach 20.000$ Without a massive adoption, price won't be stable, and it can increase only if some rich people wants to invest in and make some money, then sell and it will decrease again and again...