IMO this dip is a bit different then the past years and in this corrections case it is mostly due to the 2 things...

1. A coordinated pump (mid nov - mid dec) & dump (mid dec - mid feb) manipulation by institutional investors to maximize their stacks before the crypto market really takes off.
2. Tether being Audited by the US for fiat they say backs their USDT token when they really didn't have the needed fiat (instead they have been hoarding cryptos... not fiat). Once the US audited them they started to unload their hoarded cryptos to build up their fiat holdings to avoid a potential shit-storm.

Long story short the recovery IMO will be much faster then most people expect, although we will have to wait until Feb 14th before the true recovery begins (which may start slow but will pick up speed in late feb and early march).