Hi I am new here and not used to the volatility 
in the price, and will the market recover or is it due to selling during the festive season? 
In other commodity trading, drops like this is indicative of a market slump and may result in panic selling. Is this a true reflection or is it normal?
This is normal, my recommendation is that if your investment is in the green that you sell now and take some time to watch the market, probably some months, that way you are going to get the hang of bitcoin volatility, I know that at first it may seem odd the way bitcoin moves but eventually you are going to get used to it, and if for some reason you cannot deal with it choose another investment because bitcoin is not going to change. in the price, and will the market recover or is it due to selling during the festive season? In other commodity trading, drops like this is indicative of a market slump and may result in panic selling. Is this a true reflection or is it normal?