The valuation of BTC is looking very bubbly. OTOH there's been a series of sell-offs that keep finding support around 13K. Even if we see a major contraction in valuation, I would be very surprised if it broke below the mid Nov. support level of 6.3K. I'll likely push all my chips into the table before that.
The bigger question in my mind is if and when BTC loses dominance and to what. I think ETH has proven itself and is a good investment now. BCH will only succeed if it can wrest the Bitcoin brand, which it may be capable of doing and is a good hedge bet. I don't like Ripple at all. LTC is proven and will likely hold value, but I don't see it gaining market share. Past that you're into small caps and penny crypts where volatility is high. They can soar one day and give it all back in a week or less. I think privacy as a sector is a good play (DASH XMR ZEC XVG NAV).
No question there's a lot of money moving around on rumor and speculation. Looks a lot like the dotcom bubble.
Another thing I'm paying attention to is Proof of Work. The jiggawatts being consumed by crypto is unsustainable. Especially if it is to scale. The main alternative is proof of stake. But if decentralization is a goal, and it is, proof of stake is problematic. Though not necessarily more problematic than proof of work. We've seen considerable centralization WRT BTC mining. OTOH miners, developers, and consumers all have to contend with each other and a system of checks and balances has arisen organically as when segwit2x was canceled.