if it goes parabolic for too long, then I feel it makes take longer to recover in the longer term after the correction. This kind of dip or down, makes me think we have not see an all time high yet, and that the price has a higher floor.
Clarity still hasn't been given about Chinese exchanges: when that comes in, and China will indeed ban free trade of BTC, you can rest assured the market will move more violently. Why would you still mine Bitcoins if you cannot pay for your electricity bills? A mining conglomerate however could sign the BTC's still in their possession on foreign exchanges, and the same goes for large holders of BTC in China. You won't be able to get it into China easily, but at least you will have gotten USD's for it.
Mind you: this might very well happen in the next days, weeks and months.
An asset cannot appreciate forever, and I think BTC already reached its peak. The charts are starting to show clear signs of saturation and start pointing out to a late 2013/early 2014 like scenario. I cannot exclude the possibility of Bitcoin rising to new highs though, but I consider it to be especially unlikely at this point. In the world of crypto that means one thing: down we go. Up to 80% in the worst case, spread out of months and years.