There has been a lot of speculation on the location or even the existence of Atlantis. And that is because Atlantis was allegedly drowned in a cataclysm and was never to be seen again. There is a theory that associates the Minoan civilisation on Crete and Thera (a destroyed Greek island)with Atlantis. But the dates and the location are wrong. Plato said Atlantis disappeared 9.000 years before his time and that Atlantis was located West of the pillars of Hercules (Gibraltar's detroit). The theory says that there must have been a mistake in translating egyptian to greek so 900 yrs became 9.000 and east became west.
It is science biggest guess. I have a horrible headache. I'll come back later to add another comment.