This may just be a precursor. In all honesty we may see a slight recovery in the next few days with a lot of sideways action leading up to the Jan 24-25 date before another major dip occurs (possibly towards the ~$7800 BTC level). The good news however is that IF this happens I expect it to hit the floor quite hard and bounce back up settling around the 10k mark for about 2 weeks before starting to rise again to the ~$13,800 level, which if it passes would become a new support floor which would act to hold the BTC price above this level going forward where we could then continue our climb back up towards record highs in the weeks/months following that. With all that said I have a feeling that many of the alt-coins without a lot of substance (aka shitcoins) may not survive this one very well and may never recover back to their previous highs (BTC will, good alts will, shitcoins likely won't).

Starting Jan 7, 2014... BTC crashes -23.13% (24 days before Chinese New Year which was Jan 31, 2014)

Starting Jan 26, 2015... BTC crashes -32.35% (24 days before Chinese New Year which was February 19, 2015)

Starting Jan 15, 2016... BTC crashes -24.19% (24 days before Chinese New Year which was February 8, 2016)

Starting Jan 5, 2017... BTC crashes -35.39% (23 days before Chinese New Year which was January 28, 2017)

Starting Jan 24-25, 2018... will BTC crash 25-35% to continue the trend??? (23-24 days before Chinese New Year which is February 16, 2018)

I would personally be quite hesitant to get into the market at the current time, as you may very well be better off waiting ~1-2 more weeks before making any new positions in the crypto space.

Just my 2 Satoshis...