Do you think we've seen the worst of this dip for now?
Bitfinex cryptowatch shows the lowest deal on BTC for this time was 9,231$ which was just about a Fibonacci retracement (almost on point). I am not using TA normally, but I am considering it when thinking about the market. For now, it looks like the worst is over. This dip might be a healthy thing for the market, and CAN be the catalyst for another run-up.
What is your take on the situation?
I think we are slowly getting up from the ground. Its been fluctuating above $11,000, but I will still be cautious though, wait it out around 2-3 days before we can be for certain that the crash is over. Sometimes we all rejoice seeing that it is recovering, but we don't know what the sentiments of the market are. We want all the bears to wake up from their hibernation to kick another rally, but we really don't know if they will start to flock the market again. Just look at it at the bright side for now, we are seeing not only bitcoin but the whole crypto has started to gain some semblance of a rally. And if this continues in the next couple of days then we could all relax and breathed a sigh of relief.