What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.
And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?
As China miners possess higher percentage of bitcoin circulation so they could easily manipulated the market price
They get big profits to sell out at high price and then buy back at cheaper price, wth of bitcoin game.
Hopefully, bitcoin can spread more widely and has more bigger market cap.