I honestly think that people are starting to get really sick of China's behavior.
What's really amazing is that they don't understand that they are cutting themselves out from a super-growing market, letting all major investor taking all their money to other countries (like the mining exodus happened recently).
Should we really expect a bear market?
I don't think this is the plan for the Chinese to cut them from crypto. I still believe all this is Fud to create the panic or buy bitcoin cheap. Whatever be the reason, Chinese will not leave cryptocurrencies. Lets wait and see how things turn up this time.