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?
Festive season could also affect market trend due to the competition of selling their coins in low price for them they can immediately sold their coins. But it won't make such big effect in the market, ups and downs are just normally happen for many times as we recall crypto history since from the start.