One of the best feature/aspect of both bitcoin (and the crypto market in general) that anything could happen, the prices will always recover. Bitcoin and other cryptos are in an increasing demand (the cryptocurrency market's capitalization stood at $18 million at the start of 2017, now it is over $140 million). I think in the case of all Chinese exchanges would shut down, the people of the country would always find a way to invest in BTC.

I don't think the Chinese ban on crypto exchanges (and ICOs) will have so much effect on bitcoin on the longer term. When the ban(s) happened, the price of bitcoin experienced a huge decrease, however, it almost recovered now (standing over $4,300, according to Coin Market Cap). In my opinion, what could really have a huge negative impact on bitcoin (and cryptocurrencies) if China would ban BTC mining in the country. But this is a step the government/regulators wouldn't make because it is nonsense.