But if the next lowest price is at $13,800, I wonder what will happen when the price starts going down because I think some people will panic seeing the price jump down.
You know what will happen, people will panic and the smart investors will buy.
We've been in that kind of situation many times, bitcoin is sometimes too bearish that we thought it will not survive again, but still, it pumps and even makes a new ATH, so never lose your trust in bitcoin, it will look like a dead for some time but it always bounces back and reward those who trust.
I doubt that we are going to see a price that low not only because smart investors will buy as soon as the price of bitcoin is going down, we also need to take into account institutional investors that bought for a price way higher than that, it is better for them over the long term to buy above their current average buying price than to let the price to slip below those levels as they will lose a lot more money if they allowed bitcoin to go that low.