Good Post! Yes the China news is FUD (although it has been confirmed that it is real - see details in video below). But it is FUD because the impact of China is not as big on the crypto market as many people may think. It could easily be evened out by increasing participation in other countries for example India, or just the increasing participation that will happen in North America or Europe as Cryptocurrencies become more and more mainstream.

But I think we will see another downtrend in the next couple of days or weeks before the market will recover to the prices we saw 2/3 weeks ago.
Watch my Video for my take on the China exchange ban and the market forecast:

NOW CONFIRMED: CHINA BANS EXCHANGES - WILL THERE BE ANOTHER CRASH?