Bitcoin has had many major dips in the past. The last four largest dumps (including the current one) caused a 63% drop. 2 out of 3 represented the long term bottom. The one that ended in Feb 2018 was followed by 95% gain before the long term bear continued.
https://www.tradingview.com/chart/3ae64DHr/
https://www.tradingview.com/chart/3ae64DHr/
Note
This turned out to be pretty much correct.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.