It seems that this is a game of a handful of Chinese elites who want to destroy Bitcoin, or China doesn`t want their altcoin rivaled by Bitcoin, because I know China is the King of the World Market for now, so they do not want or refuse Bitcoin to be a successful altcoin, do you remember this saying "If other people can do it, I also can do it" This is the principle of a greedy elite
There is no need to worry about it. Without the fraud in the Chinese exchanges, the bitcoin and bitcoin cash or other altcoin price will be more stable.