Looks like we have similar incident that occurred last year when China announces their crackdown on ICO and bitcoin trading. I would expect the same outcome to the crypto world as before with this Korean banning thing. Market price plummets but then what's next? It will surely recover, and may even gets another all time high.
the current china fud is besides getting rid of bitcoin miners in china (which hell, may cause crypto to go up, as
mining would be more decentralized)
they are saying now (for fud anyway) a ban on ALL folk in China using any crypto exchange IN or OUT of the country
hopefully, it is all FUD, but past FUD in this manner, in mass, usually takes a couple weeks to pass
but still, how I see this.....as a bad FUD combo (or hell coordinated?) thus the crypto dumps