The dive of Bicoin in China is because of rumor saying Central bank will stop the fiat money channel of Bitcoin exchanges.

We need 1 millisecond to judge that the rumor is fake.But there are so many "frightened birds“ in China, any rumor may cause a dive.

If you have fiat money, just buy in Bitcoin.

Chinese birds buy BTC@1200USD,sell @550 USD. You should thank them and donate BTC.