Disregard that news and forget about China as they completely failed to adapt to crypto. The biggest popular in the world could have been good news if they will adopt, but things happen and it's old news so there's nothing to panic about, besides, the crypto world will still survive even without China or other big countries might do the same restrictions.
You can't inevitably disregard the news as it does a huge impact on Bitcoin's price. Though there's really nothing to worry about as China has been doing this before and yeah It did a negative impact as well. So, I guess they're messing around with cryptocurrency again because they knew they can drag the prices down considering the number of people owns crypto and the number of companies operating their Bitcoin mining rig in China is huge.
I guess, they'll going to lift it after a few months.
This should not really scare people though, I mean think about it, we are talking about something that is as good as it gets because China already hated bitcoin has always been scared about bitcoin in the long run. So, why should we really care about crypto as a thing that would be going down just because China banned another thing?
Just very recently it banned mining and price crashed a lot. If something like that happened so recently then why should be fear something like that all over again just few months later. So, be calm and know that there will be FUD constantly and it is boring old news by now.