I would say it is completely normal for a FREE MARKET. Such markets are rare. The NYSE, for example has many many controls and levers that can be used to control the market and minimize swings. Nothing like that exists in bitcoin. The price fluctuations you see were present in stock markets of the 19th. century, but they are not allowed anymore and the markets will just be shut down if it crashes hard.

As long as we have a bitcoin economy based on speculation then this will be what it looks like. If we move to an exchange economy based on retail then we should assume more stability.