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.
Yes of course China has great influence, and we already saw results. But I think soon some alternatives will emerge, which will replace China. I read in other topic that Russia making crypto legal, so it might be one of the alternatives.