\ Because, remember, there hasn't been any news that would attract new fiat to enter the market. And without new fiat entering, the price won't be able to sustain itself for long.
Get out of this subreddit and start following the news channels. There is a lot of positive progress going on and has been for some time. You're just caught up in the China noise.
I don't really care about the "positive news" that are about someone feeling extremely positive about BTC or some new ATMs opening or some merchant adopting BTC. When the price is considered here, then these news are meaningless.
I want to see news like new strong laws to support bitcoins financial usage in contries with strong economies, or new markets opening with proper volume in new untouched geographical locations <-- these news would mean something to the price and I would be happy buying back if I saw any of them.