I don't think the impact of China's ban is huge.
You can see that there are still a lot of Chinese investors entering the cryptocurrency market, and they can buy the encrypted currency through the legal tender through OKEX and huobipro, so I don't think it has much impact.
With China's accession to the SDR, the RMB internationalization strategy of China started to move forward with all efforts. The nature of RMB internationalization is a regional-centric monetary strategy. The de-centralization of Bitcoin is exactly the opposite of China's RMB internationalization strategy. The clash of such strong currency attributes has forced the People's Bank of China to "torture" bitcoin after weigating it again and again.