Bitcoin/crypto price  as of recently hasn't had any affect by positive news period. The reason you saw the price spike late last year was because there were hundreds of millions of dollar entering the market, mainly because it was possibly a very lucrative investment. Now most of that money has left, therefore price crashed. It's  true value is only subjective based on what someone is willing to pay for it. When money starts pouring back into the market again like it did recently and before that in the past. you will see the price of BTC hit new highs again. Right now the big question is can crpyto become a official asset class that people start putting into their investment portfolio's, Mutual funds. Or even a Crypto Index stock to buy into.  That's when money will flood the market and we will break the tiny $700m market cap we saw in December.