The ban on ICO gave a dip in the graph of Bitcoin but it was temporary and it clearly depicts that weather it the super-hub of Bitcoin nothing can stop it from rising again. Also, in the hard time Japan was very supportive to Bitcoin which helped it to stand again. Moreover, the ban was temporary because in the recent news it was discovered that ICO will be back in power with proper rules and regulations because at the end China also knows the potential and value of Bitcoin and can't afford to lose that.
that is right to say that in very beginning the banning news of ICOs by China turn the bitcoin price down, but after some time the market recover its position in a very good way, in fact now the bitcoin users are increasing throughout the world who are giving more support to bitcoin and therefore even the China decision about banning ICOs could not effect the bitcoin so much. i am sure that very soon bitcoin will cross its previous position and will reach to 5000$ once again.
Ya it is true that china have banned ICO but i think they will clear this ban and make some rules and regulations that have to be followed by the ICO developers if they want the china to invest in their projects. Which is good as due to this we can slow down the scam ICO.