the biggest chinese exchanger caused the drop because of the banning :
huobi.com,
okcoin.com,
BTC China.com,
the reason they closed it because they want to kite it,
for now they are banning people from their country and exchanger to make a trade,
but in the next month they will enable it again just like before.
when they disabling the withdrawal and afterwards they enable it again.
it's a classic move made by them
what do you mean with "kite" ?? are you saying they playing like this to get ..... what ?? cheap bitcoins???
at okcoin
1) OKCoin.cn, OKCoin.com,Huobi, BTC China would be temporarily delisted from BTC and LTC's index constituents from Sep 30, 2017 applicable to all OKEx's Futures (Weekly, Bi-weekly and Quarterly)
https://www.okcoin.com/t-496.html