A big panic from people 
That may happen to them, especially for small and medium investors who already bought bitcoin at a high price and in the market, there will be a panic sell from them.
But the big investor will be happy to buy bitcoin at that price because the price is lower and they might not see that in the next year.
But after the price reaches the lowest price, sooner or later, the price will bounce and start the rally.
That may happen to them, especially for small and medium investors who already bought bitcoin at a high price and in the market, there will be a panic sell from them.
But the big investor will be happy to buy bitcoin at that price because the price is lower and they might not see that in the next year.
But after the price reaches the lowest price, sooner or later, the price will bounce and start the rally.
Sure, weak hands will surely panic but those who have faith in Bitcoin won't budge. They will see it as an opportunity to bag more BTC. This kind of price decline already happened way back 2018-19 when the price of BTC plummet hard after reaching its ATH on 2017. So I think this kind of event won't shrug off holders that had witnessed the previous price crash of BTC.
As long as they can stay strong in holding bitcoin, they will witness the rise of bitcoin, increasing its price to earning big profits again.
Bitcoin holders who don't sell their bitcoins when the price is down will surely be happy to see the price rally towards higher prices because that is the moment they have been waiting for.
Therefore, we must have a strong hand to hold bitcoin.