These news are pretty unfortunate for Bitcoin and for world of cryptocurrency as whole, still though, I am sure that the ban might not be permanent because China is fully aware of how helpful can cryptocurrency be in the near future. It's just because Bitcoin evolves a little bit too fast the chinese decided to "slow it down a lil bit". Nevertheless - I do not see it as any kind of a big problem for further Bitcoin adoption. Bitcoin has survived worse things than that.

Upvoted and commented by @lifipp a.k.a Hash Courier - author of weekly articles about cryptocurrency world.