Who knows whether it is really fake? I was amazed till now that why government like China (one-party Communist government) which loves censorship isn't looking in Bitcoin and cryptocurrencies.
But since such news are coming, we should expect them to be real till some point. But it really a testing time for users all over the World to prove that Bitcoin isn't puppet of one country and we can easily neutralize Chinese affect.
Even China is known for making fake news and everything. It is still possible that the news is still credible. The government of China is indeed can manipulate everything just to make something up or to cover something up. Though, it's still not clear for all us if this it's fake or real. Better be prepared is still a move just to prevent future losses and regrets.
Not only the government but the Chinese crypto community can manipulate the crypto markets but if this news about banning is fake then expect that they are aftering something and might they will pump some alts listed around. For now lets just listen to the pulse of the public and let see how far this issue go and I'm sure people can recover from this issue and buy more when the bad news delima.