You don't have to make a single choice as when to buy, the best strategy is to spend small amounts and spread the trades, for instance if you buy every week for 100$ while the market is crashing you can make sure that you are not putting all your money on one go...
Yes that is what people advice, but in reality how many traders actually perform this exercise should be put to check. Buying at set points as the market crashes give you more chances to sell when it goes back up and you close that position, borrowing that term from Margin trading. 
China's statement seems to be in order with Ellon's statement, so that seems to add to the downside of the current market bearish list. many people experience fear which adds to this downturn. This kind of thing happened in 2018, and I think it will improve too. therefore, as investors in particular we have to be patient
Let not jump to theories but move with the market. Currently it has dropped from a bubble which is why the crash happened at more than 10% from ATH. Basic need now is to build up support levels over these ranges that were touched - 35k to 40k first. This never happened in the last four months - which is the reason for the situation today.Dont be jealous at how much they may have made, rather identify your own mistakes and correct them. This is lacking in every human, we tend to brush aside the mistakes like not selling at the new highs, even in smaller amounts.