sometimes when an incident (news) is new and you have nothing else in the history to compare it to, you may "guesses". but when there is a perfectly clear example in the history you simple compare it with that one. and when there are multiple instances of it then you can be sure of the same result.

in this case Chinese market was 100 times bigger than Korean's ever was. Chinese government closed their exchanges a couple of months ago back when bitcoin price was still around $2000-$4000.
the result? a tiny price drop followed by the biggest rally of the year up to $20,000!