In bear market price of Bitcoin slowly drops to the bottom. It never go just one way but a bit down and up and down. But of course more down then up. Then we at some point reach bottom and bear market stops. After that price still goes up and down and up and down. But in general price dont moves to nay direction. So price sort of stabilize. After period of stabilization ends then Bull market start, where price goes up and down and up. But more up then down on long term. And then at end we come to the ATH. And ...
Maybe you mean the volatility of bitcoin market price. As we all know that these is not an unusual event for bitcoin market price movement. The OP says if what will actually happen if bitcoin market price fall and who will directly get affected by this and I suppose the short term bitcoin investors.
Some of investors may lost interest in holding their bitcoin while new investors may be attracted to invest with its low market price too.
As I thought that the short term investors for bitcoin will directly affected by this resulting to selling bitcoin in a cheaper market price.