As said above, this is attack on crypto fundamentals. At this moment crypto value is based primarly on speculation and most who get into the space are coming here for speculative gains, when you remove more and more fundamentals.. it's not gonna be good.
You're just spreading FUD now. What do crypto fundamentals have to do with value? Bitcoin was never intended to be a speculative asset. Bitcoin's fundamental values remain unchanged even if its value drops to $1.
After implementing something like one can expect heavy price decline over time, however many are not yet aware how serious these changes are.
More serious than China banning crypto completely?