Wishful thinking. This will probably not, in the short term, add sanity. It will, however, provide a buying opportunity for a week/month perhaps.

China will make some announcement in the future that softens or reverses this one, and we'll see a spike in crypto prices.

Hopefully there will be some sane regulation (or at least guidance) on ICOs to make it more difficult for scammy types to use ICOs as tools to bilk unsaavy "investors" (which includes most humans).