If you take a look at coinmarketcap.com you will notice that there is a large discrepancy between Chinese exchange prices and international prices. Several exchanges will now officially be shutting down at different times over the coming weeks to months. This includes two of the top ten BTC exchanges OKcoin and Huobi. These two alone contribute over 8% of Bitcoin's total volumes!
The smaller exchange Yunbi looks to stop all transactions by 9/20/2017 according to their website's homepage (https://yunbi.com/) and their prices have taken a massive blow!
(Thank you Google Translate services!)
These are what the average Bitcoin and Ethereum prices look like right now:
While not hit nearly as hard as the prices over at Yunbi, OKcoin and Huobi are still trading much lower than international prices.
This is mostly due to the fact that they will not be closing down until the end of October:
Other exchanges such as BTCChina and ViaBTC have stated they will be closing down by the end of the month. (Sources: https://techcrunch.com/2017/09/15/chinas-three-largest-bitcoin-exchanges-will-all-stop-offering-local-trading/, https://www.coindesk.com/chinese-bitcoin-exchange-viabtc-to-close-amid-regulatory-crackdown/)
Things are starting to get serious as China is finally beginning to regulate and crack down on these exchanges. They have noticed that the ICO hype was getting out of hand and have reacted with their iron fist. This ban may prove to only be a temporary thing as China realizes the economic potential of such technologies.
Bitcoin markets will eventually rebound regardless of the pressures on Chinese exchanges. The ban is only a small set back for the BTC machine as China makes up only a slice of the pie.
I will post more as new developments come out and feel free to tell me about other Chinese exchanges that have announced closures.
*Never invest more than you are willing to lose and always do your own research before making any investment decisions.
(All pictures are free domain images from snappygoat.com or created by myself.)