It is very reasonable that the price of bitcoin goes up or down. Basically, the price of bitcoin is unstable, so don't panic quickly when the price of bitcoin goes down, the price will definitely go up even more expensive.
While the current retreat is notable, it’s not on that scale. Bitcoin is still 93% higher than it was in January. Volatility is routine for the asset class: The 15% intraday drop on Sunday was only the biggest since February.
The trouble with any sort of price predictions for cryptocurrencies is that there aren’t a lot of fundamental metrics to form the basis of forecasts. Much comes down to best guesses on whether institutional investors will buy in and whether Bitcoin whales will sell. Less than 2% of accounts control 95% of the available supply, according to researcher Flipside Crypto. That means one large holder can have an outsized impact on the still illiquid market.