I don't believe China or Banks control the fate of crypto markets - we saw this last year when they first put a total ban on, and then reversed that decision to refine it to ICOs. Yes the market took a temporary dive, but it was in the middle of a major correction on BTC anyway (this was same period when Dimon called it a fraud).

While 4 of the largest mining pools for bitcoin do belong in China, we have to remember that what these Governments and Regulators lack is the ability to enforce such networks to cease activity. Another thing to consider, a few Nations may have the potential to work in concert and try pull a 'blackout' on crypto, but what they face is the potential for any single Nation state to move forward with regulation that is supportive of the space - that brings opportunity for hedge funds and private enterprise to jump in and rally the market.

"Bad news" isn't always bearish news - In my experience, more often than not you can consider MSM and Gov announcements as a 'Reverse Indicator'. As a technical analyst, I've seen it way too much - regardless of what the news is (bullish or bearish) and who is it from (governments/media), the common thread is that the timing is always around pivot points (that are seen in advance).

The logic is that it is a strategy to induce liquidity from retail investors and key levels so that smart money can both accumulate and distribute at a premium while limiting volatility during the process - this is a prime understanding to integrate into ones speculation. News follows markets, not the other way round - if it's bullish or bearish mostly depends on who's money is invested where.

The pattern is the increased frequency of news/headlines that occur much more around pivots. Crypto is here to stay, it is technologically designed to stay - there's no debating it's future. However, do expect psychological warfare when retailer investors hold something undervalued, and not much that is overvalued.