I think the Chinese banned some bitcoin and ico markets but China is still a big digging country with a lot of miners in the country and also many diggers here. I think China still has a big influence on the bitcoin market.
The chinese are smart they will go back eventually. I am positive that it's just a way of them to show they are the boss. Funny though that bitcoin has shown we don't need china. Korea and Japan have taken their place, and since bitcoin is legal in japan and korea i dont' care about china anymore.