China has become the powerhouse for Bitcoin (and the whole cryptocurrency in general) as it is hosting many Bitcoin miners due to cheaper electricity and maybe also cheap labors. China also boasts of probably millions of Bitcoin owners and traders who are influencing the moves of the market on day to-day basis. As far as acceptance of Bitcoin in China, it is comfortably good until such time when the government decided that it is time to intervene.
In general, the Chinese government is not comfortable with Bitcoin as it indeed representing a different currency that they can not control with. since Bitcoin is decentralized it would be hard for the government to make interventions and so they are thinking that maybe it is time to ban it altogether. The government can not kill Bitcoin but what they are doing is actually closing the country as a market for Bitcoin.
So the question is: Can Bitcoin survive without China? In case, it can't then then there is something wrong with it since it is not resilient to ride the big storm it is in.
Well in my opinion China closing of exchanges affected in someways but they are only one country and Crypto Currency is operating worldwide for sure Bitcoin would be in adjustment stage right now because of those news in China but it will still continue and not even China could stop it.
It's just a FUD now, once all those in doubt with bitcoin deminish,then all that believes in bitcoin remain. It wil start to boom again. It will soo. Pump after awhile.