Disregard that news and forget about China as they completely failed to adapt to crypto. The biggest popular in the world could have been good news if they will adopt, but things happen and it's old news so there's nothing to panic about, besides, the crypto world will still survive even without China or other big countries might do the same restrictions.
You can't inevitably disregard the news as it does a huge impact on Bitcoin's price. Though there's really nothing to worry about as China has been doing this before and yeah It did a negative impact as well. So, I guess they're messing around with cryptocurrency again because they knew they can drag the prices down considering the number of people owns crypto and the number of companies operating their Bitcoin mining rig in China is huge.
I guess, they'll going to lift it after a few months.
They are already starting the ban on exchanges.
These are not really some shocking news and its true that they've been doing this back in the past.