Not necessarily  , but I think a lot of herd activity has been removed from the markets, crypto markets are much more stable, a lot more professional traders getting interested and this could push the price of certain cryptocurrencies up,  but not like the bull run we've had in the past.

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To make good profit, I'd say start with at least $1000 worth of bitcoins or you could start with less and trade with leverage although it's much riskier

Yes, it's possible.  And you are right BTC/USDT is the best pair to trade. your are least affected by the fluctuations in BTC price against the dollar.   to make 50$ a day, would require a generous amount of capital.   $1000 in BTC at least. Some exchanges offer leverages which give higher profits but also come with greater risk. Good luck

People will continue to buy bitcoin because they believe after holding for some amount of time,  they will make huge profits. And also because of the simplicity of bitcoin.

Besides Bitcoin, during the past week, we saw Etherum also dip seriously against the dollar, breaking previous supports and moving as low as 530; Is this just Etherum making a correction or should we expect more moves to the downside. HODL or Sell??

Long-term trading is indeed good for people who are new to trading.   It provides better profit potential and less risk than short-term trades.  It is also very important to invest in a capital you can afford to lose as the crypto markets have no directional bias.  Let's not forget about being patient and allowing the trades to run  

Very true, there is no particular to determine if an ICO is legit or not. I've been a bounty hunter for numerous ICOs some turned out to be amazing even when I wasn't expecting much, while some were a very big waste of time and energy.  I believe @Ludmilla_rose1995 is right; the more ICO bounty we get involved in the higher the chances of getting coins/tokens with a good future.