Still only good news to me, seeing as it gave me some opportunity to buy more EOS and Bitshares ^_^ Why do you think China is the one that dumped all of the Bitcoins? They are seperated from the ICO's aren't they? Of course it might be the case that trust is lost with some of the holders but its still Bitcoin, the #1 hyped coin ^^
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Because the majority of mining power is in China, and, as a potential consequence, a big part of Bitcoin is there too. It's just a numbers approximation.