Bitcoin Forum

History has always repeated itself in Bitcoin on the 24th of September 2017 when the china central bank ban Bitcoin/cryptocurrency, a move that sees the price of Bitcoin crashing deep before it recovered after 3 months of struggle to hold its resistance. On the 24th of September 2021 news still, fly around about china banning crypto, which turned out to be rumors and false development that see the Bitcoin price dropping to $40,675 before it gradually rises back to 41k.

From my research, that was not a false alarm or news. There was a ban on crypto in China(as if it hadn't occurred alreaady). Actually, China is widening its ban on cryptocurrency transaction, and mining. As it stands, Crypto activities in China will be considered as an illicit financial activity. They believe that it is responsible for some fraudulent activities, money laundering, and they even mentioned it's "excessive energy usage"(Sounds like they're pained). Anyways, the news on coming out tougher will only affect the price (for a while).

I read the news here: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown

Well, at least it's not that worst unlike in the past where Bitcoin didn't have much time to recover and it goes straight to bearish season after that news of China banning crypto currency. What do we expect with them to do when they don't fully support Bitcoin then that's the only way they could get rid of it. Despite of what they keep telling where there are fraudulent activities well we don't know what's the truth so let them ban crypto on their country miners will have a choice to relocate their equipment or sell them to others but I have a doubt they would do that.

Please do some research before claiming "true or false" news.
The news your read is old news but just posted and spread by the media lately.
Check this Fillippone's post: https://bitcointalk.org/index.php?topic=5361664.msg58012462#msg58012462

Don't be easy to be influenced by new issues or news, we all know that some people probably use that fake news for their own purposes. I am not surprised with much fake news, there are many big players in crypto investment now. Those big players must want bigger profits by buying at a very cheap price. They want Bitcoin price to drop by spreading the old news (FUD).

The problem with this is that the ban is taken seriously by a lot of people and they don't know what's happening right now and they still think that it's a bad omen that China is making some move in the Chinese market.

Look at the FUD. Do you believe it is real?

China will lose a huge income from tax if they ban crypto transactions and crypto exchanges in their mainland. With the greed they have, do you think they will self eliminate opportunity to earn income for their country and their regime?

Many exchanges try to move their main offices out of China main land years ago and they will continue this trend. Only if China want to reject such income, other nations have no issue with China ban as well as cryptocurrency investors or traders.

Crypto has recovered from China's FUD over a dozen times in the last 12 years (https://cointelegraph.com/news/crypto-has-recovered-from-china-s-fud-nearly-two-dozen-times-in-the-last-12-years)

It's because many of them are new to the market, they haven't seen the old news that China did the same thing before.

Many will still be scared of this news and they're likely to panic sell and that's what happened before that has burned a lot of weak hands.

Let China ban bitcoin and it is better they do not get involved in bitcoin at all. China does not like crypto but they want to make their own digital currency and that means they want to take down the market by their currency. China's expansion will not stop just by ban crypto, but they will do other things to conquer all countries. It is just another bad news for bitcoin, but we know that bitcoin will not stop because of that news and we will see the rising of bitcoin soon.

That's not an excuse anymore, crypto is the talk of the town for a long time already, maybe about 5 or 6 years or so it's acceptable but it has been a decade, I don't think that people that's getting into crypto isn't fully aware of this kinds of issue as a lot of news outlets are picking up on every crypto stories.

It's not a false alarm, they have been banning crypto since 2013, LOL.

So why are investors still affected by this news? I haven't check the price, but today it is $42,000-$43,000. We are still above or at least in the average for this month. So I guess the drop will be temporary. On the contrary, if history repeats itself, this kind of statement from China will fuel another bull run.

There might have been rulings, statements, or other official decisions against crypto in China, but I don't think there was ever a time when an ordinary Chinese citizen is really prohibited or deprived of any access to crypto. So whether or not these were not false alarms or mere FUDs doesn't matter that much at all, because, if my memory serves me right, there was somebody who was in China at the time of the 2017 crypto crackdown and he/she posted here that they could still pretty much buy and sell crypto.

How many FUD from China in history, especially China ban events?

I did not count and did not finish my research on it but please look at the chart, there are some massive crashes and I believe many of them were triggered by China ban events. Anyway, after all, Bitcoin recovered and grown up significantly.

Think about such events ^[1]?
^[1] Crypto has recovered from China's FUD over a dozen times in the last 12 years (https://cointelegraph.com/news/crypto-has-recovered-from-china-s-fud-nearly-two-dozen-times-in-the-last-12-years)

Have you ever thought that such events are good supplementary sources for Bitcoin growth?

Not for the newbies though, they're going to be panicking over this thing because they're not up to date with information regarding the influences in crypto market and they are part of the greedy masses that just jumps in because there's money to be made without making any research.

The key is to look at people's views on the ban. Some news has spread before being confirmed. This may be done deliberately by someone for other purposes. So we are in the market. Don't be misled by the news. Their purpose of making news is to create panic and affect our emotions.

Many people see that some news in the market will affect their emotions. Now as time changes, more and more new investors join the market. Their experience and experience make it impossible for them to keep their emotions calm under negative news. However, some experienced investors will inevitably panic because of the sharp decline of Bitcoin these days.

I do not count as well as I do not care with what China said. Their government does not like crypto and will do many things to stop the growth but unfortunately, they can not do that. No matter how hard they do, crypto will grow because the other countries will support the growth of crypto.

I do not worry about the FUD or other things. I consider that is part of the crypto journey and it is normal to see some people do not like a new thing that can change the whole world if it gets more adoption.

With so much bad and good news, that affects bitcoin while more people get benefits from bitcoin. So people from other countries will see and think if bitcoin is good or bad for them.

One thing is certain here and that is the fact the despite the previous bans there is considerable number of people and transactions going on in the cryptocurrency market in China, otherwise they would not again issue such a notice. I am wondering how many times will China be banning Bitcoin. This time around the impact is not that bad so that next time around maybe we can expect the market to just shrug off things as if China is already a non-factor.  My question is this: why does the market still listening to China? Let's already discount China in cryptocurrency as there is no future with them under its oppressive regime.

I don't really focus on countries ban or accept bitcoin anymore. It is important but I think the more important things are fundamental and technical analysis in trading. Company with good governance will survive again bad economic situations because they have great people behind it, who know what to do. Now we face a reality that most of bitcoin users are trader so we have to know how to deal with it. In my opinion as long as we already take good position in trading then if there are any bad news then we don't need to worry about that, it's just a matter of time.

This is a big sabotage of China. Im sure everyone are all aware of this news already and been fed up with the fud. Its not surprising they keep coming back. I assume the whales on China arent satisfy enough with their gains or already been sold their asset and wishing to buy back some cheaper one when they initiate this fud attack. The article has been recycle many times over. China is really something, persistent on their goal to bring down crypto.

I don't think that we are to blame chinese authorities for this decrease. Crypto market was really overheated (not only bitcoin, but all altcoins as well), so it is a usual correction after a protracted growth. Moreover we see many economic news around the world. Chinese giant company nearly defaulted on bonds, there are news that the US is about to default, so stock market is also decreasing.

It is called FUD not false alarm and it didn't start in 2017, it actually started as the market started with the first exchange coming out. But particularly speaking the "China banned bitcoin" FUD started back in 2012/2013 and has been repeated at least a dozen times in the past 8-9 years!

If you look at the timing of this FUD it makes even more sense. They didn't spread the lies on the internet when price was rising, they waited for the drop to happen then started it to try to push it lower.
It is just market manipulation and will end like all the previous times when they realize they can't push the price any lower than this.

I think what happens is that when that news reoccur again, a dip/crash will happen, its an opportunity for those who have funds to buy the dip. Its happening always, when a fake news resurfaces. Again, this time it happens and in a few weeks/months the price will rise again and those who panic sell will lose big time.

I don't think the Chinese government has such a big influence on the bitcoin market. Can only one message produce a big decline? I don't believe it.

It still amazes me how much influence chain still wills when it comes to the Issue of Bitcoin. This just showed that whether it is even fake news or FUD, as long as China's name is mentioned in it is just enough to make the Bitcoin market tumble and it doesn't matter whether people believe it or not like here and the question also is, why are investors so quick to react to this kind of FUD?

The Chinese government has always disliked encryption and has always been suppressing virtual currencies. We should not care about news in this regard. Everyone has their own attitude towards things. There are people in the field of cryptocurrency. Believing in some people but not believing, this is all normal. As long as we are firm in our ideas and don't be easily influenced, the time in the future will be the best answer.

China is up when other developed countries and continents are embracing, China is busy banning Bitcoin. They think they are protecting their economy but not knowing they are excluding the citizens from advanced technology development and advantage.

China always likes to publish policies to suppress cryptocurrency. Every time a policy is introduced, most of the currency prices will plummet, even if it is a rumor, which proves that China actually controls the cryptocurrency market. In fact, the purchase of cryptocurrency in mainland China The masses are very large, and we must respect the Chinese market!

Fake or genuine news related to China is very detrimental to the market. I hope it doesn't suffer a severe dump like this year 2017 for the crypto market. I think this effect may be temporary and this effect may not last long. hopefully this alarm will end soon and the market will recover especially for bitcoin

Oh yawn. Chinese individuals I know for years have already been doing P2P since at least 2016/17. The China cycle of FUD/bad news, whatever, it's normal/regular and it's expected. It'd actually be alarming if the state didn't do something or say something about Bitcoin every year or so, and towards the end of the year.

US wants to sanction exchanges, China wants to ban crypto transactions. That's the beauty of Bitcoin. You can still use it if you want to. Censorship isn't going to prevent you if you want to use it.

We all have different timelines on when we discovered crypto.

If you think that it's not an excuse anymore, well, that's you that thinks everyone already knew crypto.

It must be admitted that all news related to China always affects the crypto market, maybe because there are many big investors from China.
Although the Bitcoin price was affected by negative news from China, I believe it won't take long for the Bitcoin price to recover. So if there is
a FUD coming from China, don't panic, stay patient with holding the Bitcoin we have, because only people who can be patient can make a profit.
Moreover, with many institutions investing in Bitcoin in the long term, Bitcoin price will not fall as it did in 2017-2018.

Are you sure that it is a false alarm? Because as I see in so many places now, it seems like China has banned cryptocurrencies and the activities related to it for real. It is true that they made so many fake news before this one. Every time, I was being surprised but it turned out to be a lie. This time, it seems really like true. China has already been against these assets so I'm not surprised anymore.

It will ban again and again and again. But who cares? That shows how much china scares to the crypto field. That will increase the adoption of the Europe and American investors to the market.

Thankfully though, the price was not affected by the recents news or FUD coming from the Chinese. If this is 2017, we might see the price going below $40k and the dip are going to continue in the following days. So investors may have seen this news as nothing news, except maybe for newbies.

And so be it, if they want to continue to ban it then we can't stop their government. It's now up to the Chinese investors or whether to stay in the market or move somewhere else wherein crypto is openly accepted by their government.

I read a lot about China banning bitcoin whether it's true or just FUD but for sure the market is very influenced by news from China and bitcoin price drops drastically, does china intentionally make fake news and when bitcoin price goes down they buy bitcoin after that they make good news and bitcoin will go up then they release bitcoin is that the aim of china?

This type of news will definitely scare the smaller and inexperienced traders so I expect the Bitcoin price to drop below 40K USD for a while.The price had recovered many times from this FUD.It will recover again.
I can't wait for China to ban crypto once and for all,so we could stop with all this FUD,that has been continuing for years.Bitcoin/crypto will be fine without China.Sure,the cryptocurrency prices would be way bigger,if China(or at least the Chinese government) was more open towards crypto adoption.
I expect a bull run to happen in 2022.I was more optimistic about this year,but the FUD will discourage many investors into buying Bitcoin.

I am not surprised if there is FUD coming from the Chinese government, because the Chinese government has often spread the news that it will
ban Bitcoin. And it often affects the market, although usually it doesn't last long and the price of Bitcoin goes up again. I don't know if
the Chinese government is doing it on purpose to manipulate the price of Bitcoin or not. What is certain is my advice we don't need to panic
and be affected by the FUD that happened, as long as we can be patient with holding the Bitcoin we have. In the end we can get through this
bad market and can make profit from Bitcoin.

https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24/ (https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24/)

According to Reuters, this time is not a false alarm as it seems. China really has banned cryptocurrencies completely. There have been so many claims that they did this before so far but they all turned out to be wrong. But now, we see that it has really happened. But this should not be very surprising for investors because they should already be aware of China's being completely against this market.

This time the Chinese news only dropped Bitcoin by $2,000. Is it still going to fall? Did it fall by 2,000 dollars? The Chinese government will not give up.

China's Huobi Exchange has already made the worst announcement, clearing all users in China, will it usher in the most terrifying decline next?

But as I was just saying, people have been getting their Bitcoin hits using direct p2p trading, at least according to the few individuals I know, and this going on for years. It's believable too as I've been doing P2P in my native country (where there's just one reputable exchange that no one likes). And this is even outside an app or platform, using YM, Wechat, Whatsapp, forums, you name it -- there're people there vouching for each other and taking their Bitcoin trades direct.

Every time a government does this, people learn to go underground and learn to deal P2P. Indirectly, it leads to better rates and more education, and more direct onchain activity (as opposed to selling/buying offchain on another platform/app).

I'd say it's an unintended win for Bitcoin, with some initial inconvenience.

The news will still have effects (probably) because we have to admit, China has a standing in the economic sector compared to other countries. But it wouldn't be that impacting as people are starting to get weary of the shenanigans China has been committing against cryptocurrency ever since 2018 came. There will come a time when people will just shrug news coming from China knowing that there's nothing good that's gonna come out of their country. Exactly, just like how the story of the boy who cried wolf went, people will start to get used to this negative news coming from China, if they haven't got used to it already. Most investors that have been in the cryptocurrency scene ever since 2018 have already known about this and had diverted their energy to something that will help the cryptocurrency community instead of focusing on the negative that is the Chinese Government.

We hope that the news spread at this time is just an engineering designed to drop the price of bitcoin, as you said in the previous year the same thing has happened and now the price of bitcoin drops dramatically but can eventually increase again when many crypto users know the news is just a way to drop the value of bitcoin, Therefore we should not be easily influenced by the news spread because they must have a certain purpose to make negative news.

according to this in 2013

https://www.bbc.com/news/technology-25233224

this in 2017

https://www.bloomberg.com/news/articles/2017-09-15/china-is-said-to-call-for-bitcoin-exchange-halt-by-month-end-j7lblmdg

and this in 2019

https://www.cnbc.com/2019/11/25/bitcoin-sinks-to-a-6-month-low-as-china-accelerates-crackdown.html

they were banning bitcoin multiple times and its like it  was yearly routine for them at the end of each year.

sure this time they are very very serious.

;D

This is the reason why china has a significant effect on the state of the market every 4 years it will repeat itself with china news and this is what makes the emotions of traders and investors affected. So far I think this is just a correction of the price of bitcoin because they deliberately dump bitcoin for the benefit of companies from China. Who knows

This puzzled me! I know that there was a ban but what is the essence of putting up the news again? Could this be intentional to cause a dump? Because I do not see the necessity to bring it back up and create FUD that has obviously impacted the price. Worst of all is that there was a dip before this, and the news only took us deeper.

I'm sick and tired of this old news, it was just recycled information but I believe it was intentionally published for a purpose to wreak havoc into the crypto market, and it was effective since the Bitcoin and other cryptocurrency prices temporarily declined and it was caused by that recycled information. I hope that China banned drama will end soon so that the market will normalize again.

I don't know how real the current situation is, but I don't think it's completely a false alarm. I agree that cryptos recovered from similar news many times, and there's no way this will crush Bitcoin or cause significant long-term impact on its price, even, but I think that short-term impact over the next few months. Or maybe this event and the fact that Twitter now allows tips in Bitcoin will sort of cancel each other out, as seems to be the case right now. In any case, I'm sure Bitcoin will be alright in the long run, and given that it's indeed not the first 'ban' of cryptos in China, I don't think it's the end for cryptos there either.

Same news again, not so big impact. Market recovering. This is not the first time China has declared a crackdown on cryptocurrency-related activities, but until now so many government agencies had not collaborated on such efforts.

I'm sure everyone already knows this news and is sick of the news about the ban on bitcoin from China, sometimes I think China is deliberately making this news so they can buy bitcoin at a cheap price, and resell it by making things better than the news they make also

As the OP already said that here on the topic, China banning bitcoin is not something new for people who already know bitcoin and China. History tells us everything we should know and China is trying to ban bitcoin since 2017 in the beginning they could make some effects on the market but right now, everyone should know how they act. Since China wants to get the economic control everywhere and bitcoin nature is against it, they try to ban it or spread fake news against it.

This year's bans in May and September look strong. They want Bitcoin and crypto to be disabled in China. People cannot mine, trade on exchanges, P2P trading is prohibited, and even the Chinese cannot talk about cryptocurrencies on the country's social networking sites.
This is considered the absolute suppression of cryptocurrencies in the country with the largest population in the world.

The price has already gotten up to $44,000 after the news was made. I also suspected it to be a rumor because I know that it has been long that they talked about Bitcoin being banned in China, so I wondering if they were banning it twice or what? I just didn’t get it. So, I knew there was something about the news, and it all doesn’t make any sense at all.

Even if they should it ban, it’s not going to make Bitcoin to stop, it might just have a slight decrease and still get back again and continue. And that doesn’t stop people from using bitcoin, we have seen how people quickly switch to making use of P2P exchanges in places where Bitcoin was banned. So, that’s the same thing Chinese people will do when centralized exchanges are no longer functioning for them.

Since I started using cryptocurrencies there are so many bans, clampdown on Bitcoin exchanges mostly from China the bottom line is that Bitcoin still survive and thrives,  consequences of such fundamentals often result to a price drop or dump, however the aftermath of such announcement is that price recovery is very sure though it might take some time, the Europeans and American had already embraced and had been adopting cryptocurrencies thus it has come to stay no ban will have any impact on it again.

There is nothing false about the fact that China has banned cryptocurrency, it is widely reported by major news organizations who confirm with the Chinese government themselves. They are trying to stop people using Bitcoin as a method for officials and wealthy citizens to abandon China - either because they see the house of cards starting to collapse or they fear repression by higher-ups. When things start to go wrong in this country, sh#t flows down hill and anyone who is unable to escape might be scapegoated. You have seemingly skipped over the fact that Bitcoin dropped about 10% before recovering 1%, that hardly seems like a big win in my book.

I agree with that Bitcoin has really gain ground and most ban news around no longer has much effect on it market price in recent time. Can you please provide any link of where someone make a post here that he or she can still buy and sell Bitcoin in China freely after the government ban.

China's expansion will not stop just by banning crypto, but they will do other things to conquer all countries.
China doesn't like crypto and they want to bring down the market in their own way. the presence of bitcoin can destroy the market competition they have been running for so long. we know that bitcoin is not going to stop because of the news and we will soon see bitcoin rise.

I thought I was the only one that thought about this. The Chinese people are good at economics, I believe they are using their economical and numerical power to manipulate the market. No matter how any country bans Bitcoin and cryptocurrencies, they are still connected to the blockchain and trying to develop their own national e-currency.
No matter the present predicament of Bitcoin, it can become the chief corner stone in the future, and the government knows about this.

they have also banned CMC, COINGECKO, and others. China is serious about this ban. and they do not create a gap for their citizens to play a role in the crypto industry.

They will see that they can not do that for their people because once their people do not like it, they will reject the regulations. Once that happens, we might see a war inside their country and if that happens (again), I can not imagine how many people would be killed.

They need to realize that the world is changing, so they need to adjust and follow the technology and not prohibit their people from using something that can change their lives or country. I am not sure if that ban will really happen for a long time but let see what will happen later.

Well, it remains to be seen whether this news will impact Bitcoin and cryptocurrency as a whole in the next few weeks. We must and should not be panicking yet as we saw the resilience that Bitcoin is showing for the past days since the news was reported. I think what is best right now is for us to always check this forum and also your apps for many latest Bitcoin news and then hold a little longer because many believe that this is just an attempt to make the price lower.

I don’t normally pay close attention to fuds and most time I just disregard such news; I think this is a plot by the china government to pave the way for the digital yaun as it’s about to be launched. But banning cryptocurrency in their jurisdiction may render their own CBDC ineffective, as there will not be room for a competitive market.

it is not a false alarm mate it is reality and this is the reason why market is hurting once again now. the Price is now little by little recovering but it is truthful that this banning always take place in the market.
maybe Manipulators took advantage? or just panicking is affecting the whole market?

because now it is not only bitcoin but all of the cryptos are in Red zone .

it may sound FUD but it isnt , this is a correct news and crypto is affecting .


But i doubt that this make the whole amrket suffer again for another months like what happened in 2017 , now the investors shows strong hold and also we have legit investors now that made the market stays in its level .

China has expanded its crackdown on cryptocurrencies by declaring that all activities related to digital coins are “illegal”. The People’s Bank of China and other government agencies targeted overseas cryptocurrency exchanges specifically on Friday, declaring that it was illegal for them to provide online services to residents in China. The move was an apparent bid to close a loophole that remained after the PBoC, China’s central bank, in May banned domestic financial institutions from providing cryptocurrency transaction services. In the months since, Chinese traders have continued to invest in cryptocurrency using foreign platforms. The price of bitcoin fell more than 8 per cent immediately after the announcement, dropping to just over $41,000. The PBoC announced the crackdown on Friday in a notice issued jointly with nine other government bodies including the Cyberspace Administration and the Supreme People’s Court, China’s top court. The notice said that “there are legal risks for individuals and organisations participating in virtual currency and trading activities”. It added that all Chinese nationals working for overseas cryptocurrency exchanges would be “investigated according to the law”, as would organisations providing marketing, payment and technical support to them.

In fact, whatever China does, it can be ascertained that there is content and there is an implied to something that we may find difficult to express, but we know that China always makes innovations that can always resemble the original. did none of that charge happen in china with the ban?

This prohibition has happened several times but eventually just disappeared because bitcoin is difficult to intervene and is able to move on its own without anyone being able to control it. especially with news that is always repeated.

bitcoin will be able to move up in time and nothing will be able to stop it. because bitcoin is used to this kind of news and is able to get through it.

when time comes that people inside crypto realized that this is currency and not an  asset, then those are the days that news like this will never take effect again.
those are the days that country like china is just a piece of shit to be hatred in crypto.
this may take time but for sure this will come in our doorstep .

Better make a full research first before making a thread like this.
China really ban crypto currency in their country and its not a false alarm I already read it in the facebook page of Cointelegraph. I dont know if it will really affect the market because base on my research China is one of the big holder of bitcoin.

What I am curious here is that if China can stick to their total banning of crypto? If a lot of countries are already pro-crypto in the next coming years, are they going to keep their word about this banning thing? Or are they going to change mind if they see some favorable things that can happen to their country if they accept crypto again in their system? High likely that they will develop their own digital currency to stay relevant. But I believe in the near future, they will change their stance again towards the crypto market.

now the news circulating should not be directly believed, because every news is not certain to be accurate, many media want to seek fame, so in my personal opinion, if the Chinese problem prohibits all types of crypto in their country, I am very sure they will suffer a lot of losses, so I still can't believe that China banned all types of crypto in their country..

Currently the price of crypto is in decline and this is very influential from the news of the bitcoin ban in China, but as you said in the previous year something like this has also happened but it has not been bad for the crypto world and this year the value of crypto can reach the highest value even though it is currently back down to 50%, So we as crypto users do not easily believe the news spread at this time and we should also be able to take advantage of the situation when the price of coins drops to invest.

Whether the news is true or not, why would you let the FUD get into you? We know better. They have been doing this for the past years already and they are doing it again. This kind of event triggers the bearish market for bitcoin but that doesn't necessarily mean it would just stay in that low position and would never bounce back. In contrast, this kind of event just makes the price value and potential of bitcoin even stronger. Every time China fuels FUD, bitcoin always recovers stronger than the trend it was seen before on the market. Let's just use this opportunity to buy the dip and not worry too much most especially if we are here for the long-term aspect.

Let them ban bitcoin in their region , but let the world accept it , while China is doing such closure there are many countries opening their door to open arms accept crypto specially bitcoin.
They banned bitcoin but we have EL salvador adopting this, so what comes next? those anti China countries will offer something .
this was given already above that the news is legit and happening now.

So china bans bitcoin finally but the world is accepting this.

If it is a false alarm, it has created room for FUD, and which will end up hitting the market price of bitcoin. It being real will still affect the price of bitcoin. They may in anyway term the use of bitcoin to be to be illegal and somewhat, they know what they are scared of. As the world is moving and the development of technology is fast growing, then the use of bitcoin will be for real, and the upcoming generation will have the full use of bitcoin and crypto currencies at large.
For now, the news of this could be true or false, only those that are citizens and residents of China can give a real say on the statement of ban within the country. If it is really banned, they will still be using this site at least, cause the internet won't be shutdown, except they will only be shutout from the internet.

The only thing it will do is to affect the price for a period of time, which always happens as the price is always on a rollercoaster ride, and everyone by now is used to this without fear again.