The price of Bitcoin has dropped today to almost 8.000 USD. Was this predicted? and if so why, will the price eventually bounce back up?
That was just a normal because bitcoin was design as volatile and it always depend on supply and demans or buyers and sellers. The more people buy bitcoin the higher the price and if more people are selling there bitcoins then the price will surely drop down.
Bitcoin is not volatile by design what it happens is that since the supply of bitcoin is fixed to a certain formula it cannot be adjusted to match the demand like what it can happen with fiat currencies, so the demand has been always been the indicator to watch to try to tell what the price will do during the next days or weeks, if the demand is low you can be sure the price will go down and if it is high then the price will begin to slowly go up.