"China bans bitcoin!" ... for the tenth time. Amazing that this still works after all these years. Give me your cheap coins, losers, better hurry, China really means it this time!
For those who are unaware, the Chinese government is large and complex (obviously being the largest country in the world isn't easy). The regulatory environment in each province can be tough to handle and so Chinese miners end up having to dump their stash at various times (it almost always gets timed to a bullrun, imagine that). They're usually just chasing the taxes.
This works time and time again because Bitcoin is still a fledgling thing and during bullruns the majority of investors are always lemmings who have no idea that this has happened before. The only time you should have taken China seriously was in 2012. Any time after that is just an obvious ploy to get you to dump your coins. Don't fall for it...