Don't you think if the news from China had come earlier like 5 years ago, it would have crashed the emergence of cryptos. I think that was the news that saw bitcoin heading downwards.
Whats your view?
I don't think so, although I think I understand why you are saying that. China had a huge influence on the way bitcoin start spreading. The first real adoption came from them, and that drove the price a lot, resulting in more and more interest. If they had made the ban years ago it would probably stall its evolution, specially in the mining industry, but it would hardly stop BTC from growing. Let's not forget that BTC came from zero, so the interest in the coin started growing gradually, and no matter what countries do, there will be always someone that will see potential in it's concept. I think that is also the reason why bitcoin will never go to zero, because there will always be someone that will buy it if it's price goes down.