Anything can happen in the cryptocurrency market, what seems to have gone down may not actually go down, Cryptocurrencies are very decentralized, you never know when prices will go up and down because people are involved in setting it up. Maybe some people in other parts of the world are working on setting it up
Decentralization is not the basis on why the price would go up or down, it's what the traders or investors are doing based on the market situation, if there's a FUD like what is happening now, then the market will be affected as people will panic, and if there's good news, it will recover and the market will be bullish again. That's the basic cycle, it's easy to predict what would happen based on the news, the only crucial here is to predict the news.