I've observed the same thing. If this has some merit, it means that another big dump right after one is unlikely (because bids are very thin in the cleared area). The only options are up or slow grind down or sideways.

This further means that most likely the next dump will happen only after we've moved substantially higher (this fills in lots of bids) or we've gone sideways for a comparably long period (this also fills in bids, but much slower).

All in all I think these dumps and the breathtakingly quick recoveries from them are very healthy for quite a few reasons. One of the important ones is that it instills confidence. Another one is that money changes hands from people who are likely well in the profit zone (bought substantially lower) to hands who are just getting into the game. This decreases the overall willingness to sell until the price moves up again. It also distributes "old money" to newcomers... a good thing. Of course this is fundamentally driven by newbs flooding in.