There's certainly a big possibility that we are indeed in a bear market already, the price has lost its momentum a long time ago and when a huge momentum disappears, it usually leads to a trend reversal.
Forget about Elon Musk now, there could be another next big company that will invest into bitcoin. And this might cover what Elon musk is doing. We might be in a struggle to keep up with that $50k range, but we might see another break out run.
Elon's FUD would probably discourage quite a lot of companies from publicly owning Bitcoin, as tech companies wouldn't want to be labeled as polluters.