Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.
The issue of the Chinese government to ban bitcoin is just a hoax and just being used to create panic just like what you said. Panic that will let people sell their bitcoins thus, making its price goes down. That would be the time for investors to buy more shares or buy more bitcoins and then its price would goes up again. And let us admit it, even when Chinese banned bitcoin, its price goes down not really well, it is still high and many are still trusting bitcoins.