Definitely media news have a great impact over bitcoin price.Today media could fabricate any news and present it as a true news.That's why many big financial firms continuously use media to spread negative news about bitcoin which in turn affects its price.
Big financial firms that use media to spread negative news about bitcoin is definitely a huge factor in the price movements, however with the recent explosion in bitcoin it is just correcting itself from that huge rise influenced by volume and everyone hopping on the bitcoin bandwagon. Soon I feel like bitcoin will get back its momentum and move up slowly just like any normal good stock. It will almost definitely get back to its $20,000 price range within the next few years.