Definitely not! Even if price of bitcoin is down since last three months, it will not loose its popularity.  The volatility of the price for this day is just part of it's trend. The supply and demand is not as high as before.

If this will happen,  I think it will take a lot of work. As the crypto ecosystem continues to grow, more and more coins will come out. They will continue getting a backing, and Bitcoin could absolutely be dethroned. That said, the chances of this happening are fairly small for the near-term, as it just has way too many backers that have the power to help get it adopted. From governments and investors to businesses, it just has too much power behind it.