What happens if I buy Bitcoins and the price goes down? What happens if I buy Bitcoins and the price goes down. Will I lose a quantity of my money?

Consider:
If you bought a bar of gold at $1200 / ounce, then the price of the gold drops to $600 / ounce, you wouldn't actually lose any money at all unless you decided to sell your gold at that time.  However, if you wait until the price of gold rises to $1800 / ounce, then sell it, you will gain money.  The key is an ounce of gold is still an ounce of gold, regardless of the "price" in some other currency.

Same goes for bitcoin, or indeed any currency.  If you trade it at one price, then subsequently trade it at a different price, you'll either gain or lose money.