Honestly, the situation with China is making it less clear what is going on in the markets. I also think it is contributing to all the struggles the coin is facing in the past month.
currently i am still not worry and have an focus on crypto. There are many big institutions standing behind the idea, few countries became more open to crypto and there are many more indicator that pointing to a broader acceptance.
When China implemented the great firewall, or started their disputes against facebook or google, the internet boomed without interruption. Or :] an slighly older example, when the US and the western world sanctioned Cuba, the rum production and trade did not decline. So others need to see this as a chance to step in and fill the gap, and Chinese crypto comp will go to other countries or focus on the left overs of the Chinese market.