We see it every time Bitcoin goes to a new lower level.
Bitcoin "believers" will hurry to say "buy the dip" and "just wait it will come back"
Reality is that every dip is a new lower level - and after that comes another dip...and another.
In the beginning of 2017 very few people had Bitcoin - and therefore the price could quickly move up as a large number of people with zero financial understanding started buying Bitcoin.
Now a large number of people with zero understanding has Bitcoin and price moves down - there are no more new fools to get into Bitcoin to ever pump it again.
"Buy the dip" is something only fools believe - and as can be seen in here there are unfortunately many fools in here who do not understand that their money is already lost
Of a truth I am not in support of this buying the dip phenomenon and I prefer trading base on technical and fundamentals issues. Traders are lossing money because of buy the dip and when bitcoin goes down further they have to buy again and further increase their loses. I strongly believe that that is the major reason why we are having a very bad trades and the reason why Many traders are always in red.
The best way to trade is to buy at the right time and sell at the right time by using the technical and fundamentals indicators.