The nitrogen cycle itself will produce nitric acid (nitrate) - that is an acid - which can lower your pH if you do not have enough kH or buffering in the tank. You do not say what your kH is - but if it is very low, even a little bit of extra food, rotting wood, left over mulm, etc. can cause the pH to drop.
You should find out what the kH of your water is, and, if it is low, supplement it to raise the kH - baking soda being the easiest and one of the safer methods used.
The buffer from the kH will help absorb any pH changes, holding the pH stable for you even in the presence of great amounts of nitrate, etc.
It will not come back by itself. I would do multiple smaller water changes to bring it back up. Careful buffering will stop this from happening again.
Your poor little red cap.....

I hope he feels better soon.