ICOs banned in China.. Well that's not exactly great news but at least Russia didn't go through with banning cryptocurrency altogether a while back so clearly there is government support even in non western nations. However based on this news it does sound like China has in fact banned cryptocurrencies. Even if it has though, the demand for them in China is high and people will find ways around this. Just look at their closed 'intranet' and how many people are still able to access the full world wide web from China despite this. Have faith people. Cryptocurrencies are a fantastic concept and are imo the next big thing in the technology space. They aren't going anywhere. Look at this as a cheaper way to get into the cryptocurrency you want to get into. I believe Bitcoin will at least sink to $4000 and probably to $3500 imo.
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