It could be. But you should follow the latest developments with SegWit2x. Beta is gonna be out in a few days and Bitcoin Core developers still don't support it. As soon as there is some kind of a signal that SegWit is a GO! The price is gonna rocket instantly. But there might be even deeper dip before it happens.
RE: Bitcoin is officially in Bear Market Territory - What to watch for next, and Predictions! Can Bitcoin Make New HIgh?