I said it before. Elon Musk or China is not a problem with bitcoin or other strong cryptocurrencies. People worry too much; they sell, the price drops. But these are all temporary news. The value of bitcoin is still there. Right.
They aren't the problem but they are the starter or trigger of it.
Without them it wouldn't start or at least it wouldn't be that bad.
People get scared because of the negative news and started selling their crypto and others would also be scared to lose so they would also sell their crypto it is as simple as that.
Those who sells their crypto are participating to drop the price lower but we couldn't blame them if they only want to secure their funds just like most of us.