It can be! A lot of panic sellers who eventually support the bitcoin when it hits the lowest point of price. These panic sellers are the one who make the price dump. They tend to sell their shares at the lowest price because they are scared of their investment. In this kind of situation, individual reaction lead to a downfall or succession of Bitcoin.
Individuals are clearly a determinant in creating bitcoin prices, and that happens in the bitcoin trading market. Prices can be created because sellers and buyers make large-scale transactions that will trigger prices to rise or prices to fall. Speculators play a very big role, because they have very much bitcoin.