Maybe the price is going down because too much of the Bitcoin infrastructure is in the US and it looks like a civil war just started.
Partially... more likely though there is a twelve year old kid who got rich a few years ago who is bored because its summer vacation and he has nobody to hang out with. Hence, he is exerting his will over the masses solely for entertainment. Nobody knows how long the 12-year-old kid will continue to ruin their lives and how many more coins he can go through.
This is my working theory.