China is a smart country so it has a lot of techniques in tinkering with the economy, so that in the field of digital currency it is very influential, they are able to shake the cryptocurrency market down drastically
I don't think so they could do that seriously, cryptocurrency has its own independent body and never controlled by a certain powerful country. Even US has no power on that matter, only that China's huge investors was also holders of Bitcoin. That doesn't mean these guys are afraid of that news because it was only a strategy of other anonymous business personality to spread FUD around us in order to crash btc's promising price nowadays.