Of course it will have a huge impact since China is a big player in the Crypto world. However, I seriously doubt that the government will ban it immediately after they country is the one enjoying it. Look at the mining farms around their country and more than 50% came from China. They will just put a tighter regulations around bitcoin and other cyrpto, but I do not think that they will ban it. If ever they ban it, another country will take the opportunity that the Chinese has left. Or we may see a lot of mining farms popping out as a result of the ban in China.