It is difficult to tell whether a dip after reaching an ATH will result in a correction that quickly bounces back within 24-48 hrs, or if it will go on for a week, two weeks, or longer. In this case, BTC reached an ATH above 11,000 USD per BTC and quickly dipped. This was after reaching two ATH's on two prior consecutive days. After returning to 10,000 USD per BTC briefly, many traders believed there was confirmation of an end to the dip. BTC appears to be continuing on a downward path which isn't unlikely to cross below 9000 USD per BTC over the next few days. The cause of this is likely profit taking and then "panic-selling" from many people new to this space (Coinbase had something like 300,000 new active users in the apst month). One other possibility that shouldn't be overlooked is the effect of news. We saw in September that announcement after announcement seemed to keep BTC down after it reached an ATH and corrected. Only time will tell when BTC will reach a new ATH. This may be a good time to start opening up long positions if you fundamentally believe in BTC.