Value of Bitcoin is a matter of belief. There’s absolutely no way of putting a justified price tag for the coin (at least for now). It can be that people just

Value of Bitcoin is a matter of belief. There’s absolutely no way of putting a justified price tag for the coin (at least for now). It can be that people just thought others might think the China news would be bad and therefore decided to sell. In speculative market you are all the time trying to guess what others are thinking.