In my opinion, although China's new policy of prohibiting mining will cause the price of Bitcoin to fall in a short period of time, but for a long time, it is good for the development of the Bitcoin ecosystem.
Forcing miners to shut down is not good for any ecosystem, we are a decentralized market and having miners in different location is always better than narrowing them.Currently, China has a large number of Bitcoin miners, and most of them join the industry just to make money. I don't know how miners in other regions will deal with them after they get bitcoins, but in China, in order to pay electricity and other fees, most of the bitcoins will be sold directly on exchanges. This will put a lot of pressure on the price of Bitcoin. If China completely bans Bitcoin mining, this part of the mining machines and computing power will be transferred to other countries, or some long-term holders. As far as I know, every day China sells bitcoins worth tens of millions of dollars. Without these sellers, the price of bitcoins would be more likely to rise.
The miners have invested heavily and it is not a small process and the electricity charges and maintenance charges are really high and what is wrong if they are cashing out to maintain the process. If you are too concerned about miners selling coins you can spend millions to start your own and then plan on holding as much as you want. I do have a sense of respect to these miners as they were willing to spend millions and take the risk building huge farms which helps in the security of the network and there is nothing wrong in maintaining with coins they earn.If the mining machines and computing power are in the hands of Bitcoin's HODL, it will be beneficial to the entire Bitcoin ecosystem. The Chinese government will eventually realize that Bitcoin cannot be banned, but the lost mining machines and computing power cannot be recovered.
A dream scenario where they are spending millions per month to maintain the farm and they do not cash out their coins to cover their expenses, how wonderful it would be 
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