Those who understand Bitcoin, including its volatility and choose to invest in Bitcoin, are very easy to panic about the price, even though Bitcoin has been proven to be a future investment choice.
Bitcoin is still not the digital gold. It fails to show the proparty of gold of growing when economy or stock market suffers. Sometimes Bitcoin goes up when that happens, sometimes it goes down.
Bitcoin's value is unclear. Gold is trusted by everyone. Bitcoin is only trusted by a small percentage of total population, and the trend of increase is very small. It's also unclear just how much the people who own Bitcoin trust it, or whether they treat it as a speculative investment that should be dumped if it fails to perform. This all makes Bitcoin future very uncertain.