Marc Kenigsberg, CEO of Jamworx thinks the recent Bitcoin price dip is a minor retreat from the highs of 2017.
According to Kenigsberg, there are two primary factors reducing the price at the moment:
"Firstly, some of the speculative money that has been invested in the last few months by outside investors is being taken off the table as profits. Secondly, the market is still reacting to Bitmain’s threat tactics and the risk of a possible hard fork as retaliation for UASF. Ultimately Bitcoin is still up almost 150 percent YTD so I’m not concerned at all. Clearly, the fundamentals are strong and the demand is still increasing."
source: https://cointelegraph.com/news/bitcoin-price-fall-is-not-real-marc-kenigsberg
I do think Vitalik Buterin got it right on bubbles.
The only way to get past bubbles is to just let them pop. Good thing the bubbles didn't pop like last time, though...
By the end of this year, we'll probably see another considerable price increase. Either way, I'm in it for the long haul, so short-term, it doesn't really matter to me. In the long-run, it's obvious where cryptos are going, and that's what probably most of us are banking on.