It definitely won't be positive news for bitcoin but i also doubt that it's going to bring a big dump at all. In fact i see that it'll probably not going to even affect the bitcoin price much, unless the Chinese government decides to put a ban on all bitcoin transactions all of a sudden ( very unlikely).

I think that by end of the month we're still at around $3700.

Potentially even higher, as we've seen demand for btc under $4k grow over the past few days.