After bans on exchanges and initial coin offerings, bitcoin miners fear they are next
China had been playing with cryptocurrency. I think China has a big effect on the rise and fall of crypto price. They ban and un-ban cryptocurrency whenever they want. This kind of news affects the market demand, as time goes by any announcement regarding China on crypto will not have any effect on market anymore.
People will just ignore anything about this news since they already have different position about crypto, though we can't deny the fact that they really have a big impact when they start playing around, they've got a lots of investment to place in when they are supporting the chain but when they decided to banned it again there's panic that also being created by them, time will come that position will be stand firmly and positive news will come forward.