Bitcoin will never return to the price when first appears. I think, bitcoin would be even more popular even though China blocked it. Bitcoin worldwide, and bigger than China's influence.
China did not block bitcoin and neither did they ban bitcoin. The only thing they did was shutting down exchange for now which apparently makes it difficult for anyone to exchange what they have into fiat. But there is no law or policy stating bitcoin as illegal or other activities surrounding bitcoin as illegal, otherwise, miners in China would have been soaked in their tears by now.
Actually, I am rather glad that Chinese officials have pulled the plug on ICOs. I don't like them and I find ICO market highly speculative and harmful for crypto based economy.
I am indifferent to bitcoin<->yuan ban because this is a hindrance of some sort for bitcoin users in China, but at the same time, I don't think that it will prevent people from cashing their coins.
Chinese P2P trading is strong and most traders moved to it after previous trade-withdraw blockade anyway.
China is not all world, it is just one country. They can create laws and some laws will be broken,
it is not first nor the last time, people of the China will find a way. China did not block bitcoin as
El Kaka22 is saying, not just him, I read news and other people comments, now situation is more
clear, we know what happened. Yes there are some new laws about ICO`s too, I understand that
that laws are about companies that plan to make ICO for financing their projects, that is banned,
they will need to go classical way and ask money from banks.
We agree that bitcoin will not drop so low as it was in the beginning. Now with all this popularity
bitcoin will grow more, demand will go up as supply goes down and we can expect price to rise
for years, who knows when will it stop to rise and settle on some mark.