I believe China doesn't hate bitcoin. China might hate the fact that it's untraceable, and with the problems that rised with the ICO's where many investors were scammed, and lost money, they couldn't do anything to retrieve that. It's a risky market, some will opt out of it, some will just act that they will opt out, and others will continue following bitcoin!
I agree the fact that botcoin cant be trace easily investors who get scammed cant recover that they lose in the ICO. Yes bitcoin was a risky market because you are not sure if it would going to be successful or not. But i think only china did this. Because they are negotiable people which always think about earning money. That was their characteristic that I observed to chinese people.
Although China has a large amount of miners, but the Chinese government still hates Bitcoin, do you think it very unreasonable? Why does the Chinese government need to ban the ICO market but not ban the Bitcoin exchange? You should think again about this case.