https://www.forbes.com/sites/sarahsu/2017/10/19/will-china-host-the-worlds-biggest-state-backed-digital-currency/#380d56461231

Though the news was on October 2017 but still relevant and could be one of the contributor why there is huge dip of BTC's price recently.
 
Majority of Chinese patronize their own. We cannot deny the fact that there are large of Chinese population in  the market of Cryptocurrency and their absence will be a huge blow to the price of BTC and other cryptocurrencies in generals.