Not thinking of the black Friday or whatsoever, it's not significant anymore, the market has changed, it move when there's a big news as people just like to speculate, yes, this is just a correction and buying at dip is a great strategy, but hey! are we seeing a dip already or we will wait more?
Hard question to give correct answer. There's no way we can trace whether we already into this deep or we can experienced more deeper, it will be between good analysis and traders who understand the flow. The situation will be more likely relied with speculations as investors are being move by news as what you have said.
Fud's and Fomo's still got influenced whether to what directions the trend may go, so far after that huge fall now it's moving forward again, for those who bought @ $16,526 can now enjoy selling as current value is now more than $17K.