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Bitcoin on a downward spiral, will it bounce back?

Bitcoin has been on a downward spiral since mid May.  It is currently $35,297.02 per one Bitcoin.  What could be attributing to the drastic fall?  One can only speculate, is it cause by Elon Musk statement on Saturday night life.   On SNL Elon Musk nonchalantly acknowledged Cryptocurrency to be a hustle.  On the other hand, is Bitcoin showing us its true character, a very unpredictable character?  Whatever that is causing the crashing might be of little importance as many do not understand that mathematics behind bitcoin and Cryptocurrency at large.   I do see bitcoin spiking back up to 60K and beyond but while we wait for the spike, this might be the perfect signal to stock up on more bitcoin.

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