Great post and you make some very informed and astute observations

If I may just add, in the case of the Chinese, I believe that reading between the lines, the govt. wants to mine and ban individuals from mining. I've seen HUGE mining operations there running thousands of servers and would hazard a guess that the majority of new bitcoin is mined there. Chinese dont like people having power, they like to keep it for themselves !!
Secondly, I believe last year was just a wave of pink unicorns and people jumping on the crypto bandwagon. Hopefully we are seeing a levelling off in the boom or bust 'wolves of crypto' getting their fingers burnt and moving away.
South Korea won't ban trading. Theyre starting to regulate it and stop anonymous accounts but thats all. If people comply with this, they will leave it alone I believe.
Crypto needs stability and steady sustained growth to become acceptable and a viable alternative, all this crazy trading ....just a craze and fad does it no favours. Like I said, hopefully now things will calm down.